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In a nutshell- panic selling on those few days in October of 1929 caused sharp price declines in common stock. There was nothing unusual or "inflated" about stock prices in the days preceding or following the Stock Market crash of 1929.

Panic selling brought the market to the ground. Simple laws of supply and demand were in place - with no one left willing to buy stocks and everyone trying to sell at the same time, the market had nowhere to go but down.

It really took place over a five day period. beginning on Thursday October 24, 1929.

The Market really bottomed out in July 1932 when the Dow hit 41 from 381 in 1929.

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