Black Tuesday

The Great Depression

Define

Black tuesday, October 24, 1929, was the day the stock market crashed. This lead to the great depression.

Detail

Cause:

While the American cities prospered, the vast migration from rural areas and continued neglect of the US agriculture industry would create widespread financial despair among American farmers throughout the decade and would later be blamed as one of the key factors that led to the 1929 stock market crash. Despite the dangers of speculation, many believed that the stock market would continue to rise indefinitely. On March 25, 1929, however, a mini crash occurred after investors started to sell stocks at a rapid pace, exposing the market's shaky foundation


Characteristics:

-Black tuesday is the biggest stock crash in history

-Within weeks of black tuesday thousands of banks across america closed

-Millions of families were left without any money

-worst financial crisis in American History


Significance:

Basically everything that caused the Depression also caused the crash, even the Dust Bowl was created by a need for farmers to produce more to make a decreasing amount of income as more people went to cities for jobs and the demand for farmers and their crops decreased. this led them to a need for overproducing and harming their land.

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