Industry-Specific Trends and Aggregate Behavior in the U.S. Stock Market (1926-1935)

by
Ashley Tuen
Ashley Tuen

Ashley is a rising junior (’23) from Hong Kong currently pursuing a double major in Economics and Government with a minor in Data Analysis. Prior to Wesleyan, she attended Chinese International School where she received a Bilingual IB Diploma. With a particular interest in financial markets and the public policies which shape them, Ashley hopes to someday make use of her acquired insights in financial servicing. In her free time, Ashley enjoys drawing and watching documentaries.

https://www.linkedin.com/in/atuen/

Abstract:  The U.S. stock market crash of 1929, catalyst to the decade-long economic depression which devastated the industrialized world, is easily argued to be the most disastrous economic event to have ever marred U.S. history. Despite the significance of the event, little research has been done to deconstruct the aggregate stock market trends by different industrial sectors. Drawing on high-frequency stock files derived from the CRSP Database, this study seeks to visualize the boom and bust behavior of equities by sector and detail the rise and fall of industry-specific markets leading up to and after the infamous crash of ’29.

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