Shakespeare wrote:Pretty good, considering two World Wars which beggared the country, and the loss of empire.
Britain's worst equity drawdowns were not the 30's or leading up to or directly after World War II, but about the time of the oil crisis in the early 70's.
From page 7 of their Global Investment Returns Yearbook.
"After October 1936, the approach and arrival of war led to a real stock market decline of 59% by June 1940, though recovery was complete by 1945.
Before the oil crisis, the equity market had hit a high in 1972, but UK equities entered 1975 down from that peak by 74% in real terms, and recovery took til February 1983."