Black Tuesday: THe Stock Market Crash of 1929
*October 29th, 1929 - "Black Tuesday"
*Mass sell-off occurs
*People began buying in the margin while playing the stock market
*Cause of buying in the margin
*Forshadowed by an agricultural recession - too many crops - over production
*Natural disasters - drought
*No regulation on banks
*Many people thought the economy would never go back down
*Prices dropped dramatically
*23 million shares changed hands
*This was the beginning of the Great Depression
*Mass sell-off occurs
*People began buying in the margin while playing the stock market
*Cause of buying in the margin
*Forshadowed by an agricultural recession - too many crops - over production
*Natural disasters - drought
*No regulation on banks
*Many people thought the economy would never go back down
*Prices dropped dramatically
*23 million shares changed hands
*This was the beginning of the Great Depression
Summary:
Black Tuesday was a very painful day for many people, it occurred with people buying in the margin on the stock market. On this fateful day prices in the market dropped so dramatically that people lost everything. Some were so effected by it that they jumped off buildings committing suicide because they lost so much others selling everything they owned trying to pay some of it back. This would just be the beginning of the Great Depression.