29th October 2008
Some information on the Crash of 1929 is found on the Wikipedia. Also see the Great Depression discussion. Some interesting points to note from these articles are that:
- The stock market was "cruzing" nicely and then reversed, falling 17% in one month. After this, prices made up for half of the loss, but then headed downward again. All of this occurred after a period of generous, free credit, during which interest rates were very low.
- On Oct. 28 and 29 (1929), the percentage drops in the stock market were -12.82% and -11.73% respectively. This is almost a 25% drop over a two day period.
