Black Tuesday

By: Shayla Alvirez

Stock Market Crash of 1929

In New York, on October 29th 1929 was the most famous stockmarket crash in history. Stocks lost 13%of their value on Black Tuesday. This day was considered to be the start of the Great Depression.
Shareholders tried to sell there items before prices plunged even lower. The numbers on October 29th, shares were dumped recorded 16.4 million. Other additional sellers could no find buying people. People who had bought stocks on credit were stuck with huge debts, as the prices plumbed, while other people lost most of their savings.

Why?

After the war everyone felt free to do whatever they wanted and to have a good time. People were spending more and more, and the banks would continue to lend money out. After awhile the banks ran out of money to lend to people and so then they started to recall the loans. The problem then was the people had no money, they spent it all so they were forced to sell their businesses.

Following Days Before Black Tuesday

October 24th- Black Thursday was the beginning of the stock market crashes in U.S. History.
October 28th, 1987- Black Monday is also referred to the largest percentage drop in stock market history.

How Did It Affect The World?

It affected all people, rich and poor. They could no longer afford the things that they needed. They had to make things last like food and milk. They all fell far behind in their house payments.