On Tuesday, Oct. 29, 1929, as much as $9 billion was lost on a volume of more than 16 million shares on the New York Stock Exchange alone. So much was traded so quickly that hundreds of extra runners had to be recruited from nearby telegraph offices. Stock tickers ran more than two hours behind the trades they were reporting. Similar turmoil was reported by the dozens of exchanges operating in cities, including Boston, Chicago, Montreal and San Francisco. So abject were the losses, so disarrayed were the overloaded markets that a final tally of the day’s disaster was ultimately deemed irrelevant.
Oct 1, 2016 12:30 AM CDT