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"Anyone who thinks there's safety in numbers hasn't looked at the stock market pages." Irene Peter "Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even". Richard M. Salsman
Main Points:
•Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
•People threw themselves out of buildings
•Businesses go bankrupt
•Banks close
•Depression begins
Summary:
The start of the Depression is usually pegged to the stock market crash of “Black Tuesday,” Oct. 29, 1929, when the Dow Jones Industrial Average fell almost 23 percent and the market lost between $8 billion and $9 billion in value. But it was just one in a series of losses during a time of extreme market volatility that exposed those who had bought stocks “on margin” — with borrowed money.
- The Wall Street Crash of 1929, began in late October 1929 and was the most devastating stock market crash.
- The crash signaled the beginning of the 10-year Great Depression that affected all Western industrialized countries.
- On Tuesday, October 22, 1929 after much unregulated trading and incredible prosperity the New York Stock Exchange crashed throwing people out of business and home.
- Also people started to jumped from buildings like the trade center.
•Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
•People threw themselves out of buildings
•Businesses go bankrupt
•Banks close
•Depression begins
Summary:
The start of the Depression is usually pegged to the stock market crash of “Black Tuesday,” Oct. 29, 1929, when the Dow Jones Industrial Average fell almost 23 percent and the market lost between $8 billion and $9 billion in value. But it was just one in a series of losses during a time of extreme market volatility that exposed those who had bought stocks “on margin” — with borrowed money.