In 1929 the stock market crashed. It was the most devastating stock market crash in US history. It sent people running to the banks to retrieve their money. When they got to the banks they then discovered their money was gone. That is called a bankrun.
The effects of a bank run and the stock market crashing is that people lose lots of money, their homes, and their belongings. People may own items but maybe they haven't paid the full price but they were working on it so the people who sold it get this item back, and the money that was paid for the item is gone and they wasted all that money for nothing.
What Is A Stock Market?
When companies sell stock to get money for things. What is a stock? It is when you buy a part of the company. Stocks can also go up and down. When the company is sold you will get the amount of the company you bought out.
What Is A BankRun?
A BankRun is when a large amount of people go to a bank and withdraw there money. But the bank either loaned it or used it. This can lead people to become homeless. But now in these days the government promises you will get your money back every time you go to withdraw it.