The Contribution To The Great Depression Of 1929
Mr. Jared David
10 March 2017
Thesis Statement: The stock market crash of 1929 the contributed to the Great Depression of 1930 which cause economy to be poor.
In 1929 the the stock market crashed badly due to a market that was overbought, overvalued, and excessively bullish, rising even as economic conditions were not supporting the advance.
By November the stock market lost a third of its september value
The market crash basically started the great depression. II. More than third of the the nation’s banks failed in the three years following 1929 A. People were piled up in front of bank try to retrieve their saving …show more content…
It was the most harshful decline in history. The Dow Jones Industrial Average dropped a low percent. It lost over $10 billion in market value. That’s the equivalent of $296 billion today. It was more than the total cost of WWI. It destroyed confidence in Wall Street markets. The first day of the crash was Black Thursday. The Dow opened at 305.85. It immediately fell 11 percent, signaling a stock market correction. Trading was triple the normal volume. Wall Street bankers bought shares to prop it up. The strategy worked by the end of the day, the Dow was down just 2 percent. On Friday, the momentum continued. A short trading day on Saturday removed that gain.. On Black Monday, October 28, the Dow fell 13 percent. The next day was Black Tuesday. Panicked investors sold 16,410,310 shares. The Wall Street Crash of October 1929, that is additionally called the exchange Crash, the foremost devastating exchange crash within the history of the u. s., considering the total extent and period of its consequences. The crash began what was a 10 year amount of diminished economic activity that affected all the Western industrialised countries. At the October of 1929 crash happened that at first started with flaming of real states price once peaking on 1925 ,this reduction on worth of real-estate was the begins of event that semiconductor diode to depression, a amount in history that noted for the economic crashes that unshared among the industrialised nation .The 1929 wall street crashes and depression along caused a biggest money crises at twentieth century. The panic of October 1929 has return to function a mark of the economic reduction that absorbed the planet throughout successive decade. The Wall Street Crash had a serious impact on the U.S. and world economy and it's been the supply of utmost tutorial discussion traditionally, economically and politically from its aftermath till this day. The Wall