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Stock market has its biggest gain in history...
Stock market has its biggest gain in history...
Item # 716359
March 16, 1933
NEW YORK TIMES, March 16, 1933
* Wall Street - stock market
* Biggest percentage gain is history
While most reports on the stock market have a negative focus--"crash" days always sell well--we are pleased to offer this issue which was a bit of brightness in the midst of the Great Depression.
The Dow Jones Industrial Average had its single best day (percentage change) in history on March 15, 1933 achieving a 15.34% gain. It is this event that is reported on the front page with a headline: "...Stocks Soar As Trading Is Resumed" and subheads: "Record Rise In Shares" "$3,000,000,000 Added to Values in Day by Advance of 15%" and more (see). This event even eclipsed the 936.42 point gain on Oct. 13, 2008, which was an 11.08% gain.
Terrific to have this report in the Times, the home of Wall Street and the stock market. I suspect this to be an extremely rare item because their was really no reason to save it at the time.
Complete in 38 pages, this is the "rag edition" printed on very high quality newsprint for institutional use. Tiny binding holes in the blank spine margin, minor creasing, very nice, clean condition.
AI notes: On March 15, 1933, the New York Stock Exchange reopened after being closed for over a week during President Franklin D. Roosevelt’s nationwide Bank Holiday, implemented to halt the banking crisis amid the Great Depression. The reopening sparked a surge of investor confidence, with the Dow Jones Industrial Average rising nearly 15% in a single day—one of the largest gains in history. This dramatic rebound reflected optimism in Roosevelt’s emergency banking reforms and helped mark a turning point in restoring stability to the U.S. financial system.
Category: The 20th Century
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