The present study investigates the cause of a sharp horizontal (H) magnetic depression observed on the dayside during the 2003 Halloween storm, and discusses if the same process could cause the 1,600 nT H depression observed at Colaba during the 1859 Carrington storm. For the Halloween H depression, it is found that (a) it developed in correlation with southward interplanetary magnetic field (IMF) BZ in the sheath region of a coronal mass ejection; (b) its magnitude decreased significantly with decreasing magnetic latitude; (c) it was highly correlated with westward and eastward sub-auroral zone magnetic deflections at earlier and later local times, respectively; and (d) the westward auroral electrojet (AEJ) enhanced simultaneously in the entire nightside auroral zone, whereas the enhancement of the dayside eastward AEJ was unclear. These features suggest that the dayside R1-sense wedge current system, which was driven by dayside magnetic reconnection, was the cause of the H depression, and the associated field-aligned currents closed primarily with the westward AEJ through the nightside. The Colaba H depression also took place on the dayside and lasted for ?2 hr. Furthermore, it took place within a few hours after the storm commencement, and the westward AEJ enhanced simultaneously in the dawn sector. These similarities suggest that the dayside wedge current system was also the cause of this historical event. The sharp recovery of the Colaba H depression, which has been a challenge to explain, may be attributed to the decay of this current system due to a northward IMF turning.