The Dow closed that Tuesday at 381.17, up 0.2 percent for the day and up 27.1 percent for the year. It had more than doubled since the end of 1926, just thirty-two months before. It had nearly quadrupled during the 1920s. Nobody knew it yet, but this was the top. After a drop of 1.56 points the next day, it would take twenty-five years to regain the level reached on September 3, 1929.
