The Wall Street Crash of 1929, also known as Black Tuesday and Stock Market Crash of 1929, began on October 24, 1929, and was the most devastating stock market crash in the history of the United States, When taking into consideration the full extent and duration of its fallout. The crash signaled the beginning of the 10-year Great Depression that affected all Western industrialized countries.
The 1920, had led to the stock market crash , was a time of agony and decrease since too many people used margins,or bank loans. Ignoring all signs.
Despite the expected dangers, investors believed that the stock market would continue to rise continuously. On March 25, 1929, a mini crash occurred as investors started to sell stocks at a fast pace and overselling them. The optimism, ignorance,and financial gains of the great bull market were shaken on September 18, 1929, when prices on the Stock Exchanged abruptly fell a few days after investors insisted that "a crash was coming". …show more content…
The falling commodity and industrial production may have dented even American self-confidence, and the stock market reached the highest point possible on September 3. By the end of September, the market was decreased 10% from the early on peak. Panic selling on huge volume started the week of October 21 and intensified and culminated on October 24, the 28th and especially the 29th .
The president of the Chase National Bank said at the time "We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged. It was inevitable, because of the tremendous increase in the number of stockholders in recent years, that the number of sellers would be greater than ever when the boom ended and selling took the place of
The 1920, had led to the stock market crash , was a time of agony and decrease since too many people used margins,or bank loans. Ignoring all signs.
Despite the expected dangers, investors believed that the stock market would continue to rise continuously. On March 25, 1929, a mini crash occurred as investors started to sell stocks at a fast pace and overselling them. The optimism, ignorance,and financial gains of the great bull market were shaken on September 18, 1929, when prices on the Stock Exchanged abruptly fell a few days after investors insisted that "a crash was coming". …show more content…
The falling commodity and industrial production may have dented even American self-confidence, and the stock market reached the highest point possible on September 3. By the end of September, the market was decreased 10% from the early on peak. Panic selling on huge volume started the week of October 21 and intensified and culminated on October 24, the 28th and especially the 29th .
The president of the Chase National Bank said at the time "We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged. It was inevitable, because of the tremendous increase in the number of stockholders in recent years, that the number of sellers would be greater than ever when the boom ended and selling took the place of