Black Tuesday, October 22, 1929:Stock Market CrashSummaryBlack Tuesday was the start of the market crash, but it continued to go down steadily for three years. There was a couple of different signs to the market crash such as the European company failing to do well and because of over-production.
Quote"Definite signs that business and industry have turned the corner from the temporary period of emergency that followed deflation of the speculative market were seen today by President Hoover. The President said that reports to the Cabinet showed the tide of employment had changed in the right direction." News dispatch from Washington
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NotesStock market crash:
-Dow Jones Industrial average collapsed -continued selloff took place until 1932 when the DJIA was 89% of it'd 1929 peak -people threw themselves out of buildings -business go bankrupt -banks close -depression begins Causes: -overproduction- supply and demand -stock market-buying on margin -tariffs -international debt -weak European economy- one of the first signs- see some parallels now with Greece and Europe- making sure Greece doesn't fall cause it will effect everyone else Subjunctive QuestionIf the banks had stricter policies in regards to loans, would the stock markets have taken such a dramatic hit?
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