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Stock Market Crash of 1929
Transcript of Stock Market Crash of 1929
In 1925, more people invested in the market, and stock prices began to rise
More people invested in the stock market, resulting in a stock market boom in 1928
The stock market became a place where everyday people felt confident that they could become rich Signs of Trouble On March 29, 1929, the market suffered a mini crash
By the spring of 1929, there were additional signs that the economy might be headed for a serious setback.
As month after month went by without a crash, those that advised caution were labeled pessimists and were ignored. On September 3, 1929, the stock market reached its peak with the Dow Jones Industrial Average closing at 381.17.
The market started dropping two days later. At first, there was no massive drop. Stock prices fluctuated throughout September and into October until the massive drop on Black Thursday. The Crash By Beata Abramek
and Kyle Anderson The Stock Market Crash of 1929 Steel production went down; house construction slowed; and car sales waned. is the average value of 30 large, industrial stocks Stock prices plummeted on Thursday, October 24, 1929.
Many people were selling their stocks.
People across the country watched as the ticker spelled their doom. The ticker was so overwhelmed that it quickly fell behind.
A crowd gathered outside of the New York Stock Exchange on Wall Street, stunned at the downturn.
Rumors circulated of people committing suicide.
To the great relief of many, the panic subsided in the afternoon.
When a group of bankers pooled their money and invested a large sum back into the stock market, their willingness to invest their own money in the stock market convinced others to stop selling.
The morning had been shocking, but the recovery was amazing.
By the end of the day, many people were again buying stocks at what they thought were bargain prices.
On "Black Thursday," 12.9 million shares were sold - double the previous record.
Four days later, the stock market fell again. This chart shows the stocks during the crash.
The stocks greatly decreased resulting in people losing thousands of millions of dollars.
During the twenties the stocks were very high and successful, but during the thirties, they collapsed. The crowds on wall street after the stock market crash How People were Impacted Almost 30% of Americans were unemployed.
Thousands of investors were wiped out
Billions of dollars were lost
The collapse caused low wages, debt, and struggling agricultural sections
People caused an excess of bank loans Black Tuesday The Aftermath Gap Between the Rich & Poor The Roaring Twenties was a great decade of stocks in the stock market
Investors purchased millions of shares
They thought it was saved because of the country's powerful economy
The Dow Jones rapidly increased from 60 to 400, making stock holders millionaires October 29, 1929, "Black Tuesday," is known as the worst day in stock market history. There were so many orders to sell that the ticker quickly fell behind. (By the end of close, it had lagged to 2 1/2 hours behind.) People were in a panic; they couldn't get rid of their stocks fast enough. Since everyone was selling and nearly no one was buying, stock prices collapsed.Rather than the bankers rallying investors by buying more stocks, rumors circulated that they were selling. Panic hit the country. Over 16.4 million shares of stock were sold - a new record. Not sure how to stem the panic, the decision was made to close the stock market on Friday, November 1 for few days. When it reopened on Monday, November 4 for limited hours, stocks dropped again. The slump continued until November 23, 1929, when prices seemed to stabilize. However, this was not the end. Over the next two years, the stock market continued to drop. It reached its low point on July 8, 1932 when the Dow Jones Industrial Average closed at 41.22.
To say that the Stock Market Crash of 1929 devastated the economy is an understatement. Although reports of mass suicides in the aftermath of the crash were most likely exaggerations, many people lost their entire savings. Numerous companies were ruined. Faith in banks was destroyed.
The Stock Market Crash of 1929 occurred at the beginning of the Great Depression. Pandemonium ruled on the trading floor of the New York Stock Exchange on Black Tuesday. What was the Stock Market Crash of 1929? The most significant crash in U.S. history
It only lasted four days
The Dow Jones Industrial Average lost 90% of its value between its record high close of 381.2 on September 3, 1929, and its subsequent bottom of 41.22 on July 8, 1932.
It took 25 years for the Dow to regain its September 3 high. This picture shows a man who is trying to sell his car so that he can earn some money. He "lost all of his money on the stock market." This picture shows people crowding on Wall Street after the stock market crash on October 25, 1929.