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Business Insider has some great photos of Black Thursday, when the market lost 11 percent of its value - followed by Black Monday and Tuesday. After the initial plunge, exchange executive Richard Whitney, acting on behalf of some of Wall Street's biggest players, placed a large buy order for U.S. Steel and other blue chip stocks at prices well above what they had been trading for. The idea was to give investors the confidence to get back into the market, and it worked for a short time. Then, after word of the initial crash made its way around the country, more people bailed on Monday. The market lost over $30 billion in the space of two days.
You know the rest.
The night before Black Tuesday, Mrs. Cornelius Vanderbilt (at center above the aisle) attended opening night of the Metropolitan Opera.
One of many bank runs that came after the crash.
Photos: New York Daily News Archive /Getty Images, AFP/Getty Images
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.