How now Dow?

The Dow Jones Industrial Average had an intra-day low of 40.56 on July 8th in 1932, its Great Depression bottom. It closed that day at 41.22.

34 months earlier (September 3, 1929) it had been at 381.17; the drop was 89.3%.

The Dow did not reach that September 1929 level again in inflation-adjusted value until 1954.