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The stock market crash set off a "chain reaction" in the American economy. People who lost money on the market could no longer invest or buy as many goods. Businesses became nervous about the new economic environment.
Because of the stock market crash people where unable to buy like they did before the stock crash
What happened that made businesses so nervous about the new economic environment?
Businesses when bankrupt and laid off workers, creating mass unemployment. People lost their savings and could not pay off loans. Banks failed. Prices and demand for goods fell.
The stock market caused a major crash in the economy, and unemployment hit an all time high, and price and demand for goods fell.
What happened after Black Tuesday
American banks that had given loans to European countries to rebuild their war-torn economies now wanted their money back. The depression spread to Europe when these loans were recalled.
After banks in the U.S. Ran out of money they demanded that the European country's return the money they were loaned to fix their war-torn economies. This caused the depression to spread to Europe.
What caused the Great Depression in Europe?
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