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In 1929 the [[Dow Jones Industrial Average]] (DJIA) declined 90.0% over a duration 34 months. Six successive market crashes comprised this famed crash:  

In 1929 the [[Dow Jones Industrial Average]] (DJIA) declined 90.0% over a duration 34 months. Six successive market crashes comprised this famed crash:  

*1) between September to November 1929 the DJIA fell 40% in this first phase;

*1) between September to November 1929 (the DJIA fell 40% in this first phase);

*2) from April to June 1930;  

*2) from April to June 1930;  

*3) from September to December 1930;

*3) from September to December 1930;

Business had topped out mildly, a month before the first crash; a gradual mild decline continued to April 1930, then fell sharply into a [[depression]] simultaneously with the end of the 1930 stock market rally. The business decline halted in December 1930, stayed level for 6 months, then plunged again in steep economic decline that didn’t lose its downward momentum for a full year, until July 1932. Business improved intermittently thereafter but still remained at depression levels through most of the decade of the 1930s except for a short recovery in 1936–37. <ref>Harry Schultz, ''Bear Market Investment Strategies'', Dow Jones-Irwin Co., 2002.</ref>

Business had topped out mildly, a month before the first crash; a gradual mild decline continued to April 1930, then fell sharply into a [[depression]] simultaneously with the end of the 1930 stock market rally. The business decline halted in December 1930, stayed level for 6 months, then plunged again in steep economic decline that didn’t lose its downward momentum for a full year, until July 1932. Business improved intermittently thereafter but still remained at depression levels through most of the decade of the 1930s except for a short recovery in 1936–37. <ref>Harry Schultz, ''Bear Market Investment Strategies'', Dow Jones-Irwin Co., 2002.</ref>

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==References==

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[[Category:history]]

[[Category:history]]