Black Tuesday, Oct. 22, 1929: Stock Market Crash
Notes:
Stock 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
-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
Video Link
Summary
Black 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.
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Audio Link
Political Cartoon
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
Subjunctive Question
What would've happened if the market crash happened farther away from or closer to the beginning of WWII?