Black Tuesday: The Cause Of The Great Depression

Decent Essays
The Great Depression lasted from 1929 to 1939 and was the worst economic depression in the history of the United States. Economists point to the stock market crash of October 24, 1929, as the “start” of the downturn. However, many things caused the Great Depression, not just one single event. The day remembered as "Black Tuesday," the stock market crash of October 29, 1929, was not the sole cause of the Great Depression. It was also not the first crash that month. On Thursday, October 24, the market plunged at the opening bell, causing a panic. Though investors managed to halt the slide, just five days later "Black Tuesday" the market crashed, losing 12 percent of its value and wiping out $14 billion of investments. Two months later, stockholders

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