29, 1929. Stock market volume was huge this day, with nearly 16.4 million
shares of stock traded. Prices fell drastically: For example, General Electric
was off 48 points, Westinghouse was off 34 points. The big bankers of the time,
such as J.P. Morgan, refused to do anything to support prices. Instead, their
concern was that the market remain orderly.
1987. On this date, the U.S. stock market lost nearly one-fourth of its value
in a matter of hours. The Dow Jones Industrial Average fell 22 percent, or 508
points, its biggest one-day point fall to date.