Stock market crashes on Black Tuesday

Stock market crashes on black tuesday

Black Tuesday hits Wall Street as investors trade 16,410,030 shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors, and stockholders were behind hours because the machines couldn’t handle the huge volume of transactions. In the aftermath of Black Tuesday, America and the rest of the industrialized world plunged into the Great Depression.

During the 1920s, the US stock market expanded rapidly, reaching its peak in August 1929, a period of savage speculation. By then, production had already fallen and unemployment had risen, leaving stocks well above their real value. Other causes of the possible market collapse include low wages, the proliferation of debt, weak agriculture and an excess of large bank loans that could not be liquidated.

Source link

Related Posts

error: Content is protected !!