Stock Market Crash 1929
The Stock Market Crash of 1929, also known as the Great Crash, was a major financial crisis that occurred in the United States in the fall of 1929.
The Stock Market Crash of 1929, also known as the Great Crash, was a major financial crisis that occurred in the United States in the fall of 1929. It was marked by a significant drop in stock prices and a widespread loss of wealth, and it is considered one of the most significant events in the history of the U.S.
economy.The Stock Market Crash of 1929 was preceded by a period of economic prosperity in the 1920s, during which stock prices soared and many people became wealthy through investments in the stock market. However, the market was also characterized by speculation and risky behavior, and many people were heavily invested in stocks that were overvalued.The Stock Market Crash of 1929 began on October 24, 1929, when the Dow Jones Industrial Average (DJIA), a stock market index, fell significantly.
Over the next three days, the DJIA dropped by more than 25%, and many other stock indices also declined. This sparked a panic among investors, and many people sold their stocks at a loss in an effort to minimize their losses.The Stock Market Crash of 1929 had a significant impact on the U.S. economy and contributed to the onset of the Great Depression, a period of economic downturn that lasted until the late 1930s. It also had a global impact, as the U.S. economy was a major driver of the world economy at the time. The Stock Market Crash of 1929 is remembered as a cautionary tale about the dangers of speculation and the importance of financial stability.