Crash of 1929/Timelines

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A timeline (or several) relating to Crash of 1929.

Stock price changes

(see also the chart for the period 1920 to 1940 [1])
Dow Jones Industrial Average: Low [2]
03/09/29 07/09/29 14/09/29 23/10/29 24/10/29 26/10/29 28/10/29 29/10/29 02/01/30 02/01/31 02/01/32 03/02/33 02/01/34
381[1] 375 365 303 272 296 256 212 242 161 74 59 99
  1. peak value


Timeline of events in the United States

1921 - 1929

Strong economic growth: GDP increases by 42% (growth rates: 10.5% pa 1921-23; 3.4% pa 1923-29)
Stock market boom: the DJIA index at the 1929 peak is six times its minimum level in 1921 [3].

1927

Federal Reserve Bank cuts discount rate from 4% to 3.5%

1928

Federal Reserve Bank tightens monetary policy in order to restrain the boom. Discount rate raised to 5%

October

Death of Governor Strong of the New York Federal Reserve Bank

1929 June

August

Start of a downturn in economic activity
Federal Reserve Bank raises discount rate to 6%

October

24 Black Thursday DJIA falls by 13%
28 Black Monday DJIA falls by 12.8%
29 Black Tuesday DJIA falls by 11.7%

1930-33

The "Great Contraction"
Three waves of panic create a progressive collapse of the United States banking system, with the failure of nearly half of the banks and heavy. losses by the others.

1933

Banks close in "banking holiday"