July 8th, 1932, a historically significant day in the USA's financial system.
A rather obscure factoid, it marked the day that the stock market fell to a low never to be evidenced since.
Most remember the 1929 stock market crash, which touched off the 10-year Great Depression. The crash affected all Western industrialized countries. If you are in mid-life, either your parents or grandparents experienced this dreary time for the USA first-hand. Ask them about that sometime.
From it's high near 400 on the Dow Jones Industrials Average in 1929, the stock market FELL 89% in value to close at 41.22 on July 8th, 1932.
Given today's Dow Jones level of near 18,000; that same decline would take us down to Dow Jones 2,000 !
I'm certainly not predicting that same outcome in the future, but I am not ruling it out entirely.
It would take 25 years for the 1929 stock market highs to be seen again, in late 1954.