The Stock Market Crash of 1929

stock market crash of 1929

With the way things have been going recently, it’s not a surprise that many are recalling the main points of the stock exchange crash of 1929. Up until the market crash, things had been quite wealthy for our country. After World War I, the economy exploded.

Planes were up and flying and they were never up there to drop any bombs. Folk were traveling across country and around the world. The economy looked like it wasn’t going to quit looking up. In the period between 1921 and 1929, the Dow Industrial Average went from sixty all of the way up to four hundred. It was a phenomenal time to be alive.

Millionaires were born with smart stock investments. The market was on the rise and every day, more and more folks were buying stocks on margin, making awesome wealth for themselves. Our country was going at full speed. Folks were purchasing extravagant gifts on an everyday basis, traveling around the globe and doing anything but saving.

New businesses were born every week and other countries became incredibly envious of the united states. The exchange crash of 1929 wasn’t an one time event. The crash of 1929 actually took 4 days to be in full effect. Things began to turn sour on October 24, 1929, a day that became known as Black Thursday.

Over the next three working days, Black Friday, Black Monday and Black Tuesday, the market continued to decline. 12. 9 million stocks were traded on Black Thursday. The fall actually started in September, with the market losing 17% of its value. Fortunately , things turned and the market gained for the subsequent several weeks. Sharply, things went down hill.

With a steep decrease on Black Thursday and Friday, by the time the stock exchange closed on tuesday, October 29, 1929, the market had lost 30 bill greenbacks over the course of the week.