Summary.
During 1929 many were making their money through stocks. On october 24th, 1929 stockholders started selling their stocks as others realized this they also started selling. With so many stocks for sale and very few buyers prices went way down, they went so low they were hardly worth anything at all. On black tuesday almost 12 billion dollars had been lost. Banks closed down and people were drowned by debt.
Black Tuesday: The October Stock Market Crash
- The Wall Street Crash took place in October of 1929
- Considered the most devastating stock market crash in the history of the United States
- Down Jones Industrial Average Collapsed
- Many Businesses declare bankrupcy
- Signalled the beginning of the the 12 year Great Depression
- Those who bought stocks mid -1929 worked their whole adult lives to break even
- People jumped out of buildings feeling their lives were over