Stock Market Crash
By: Sarah Klimovitz
The Stock Market was doing really well. Most Americans had at least bought one stock in the stock market. Even banks were investing. In the summer of 1929 there was a mini crash. It was fixed in that day so people didn't think much of it. On October 24, 1929 the prices of the stocks went down by a lot. "On the morning of Thursday, October 24, 1929, stock prices plummeted. Vast numbers of people were selling their stocks. " (Rosenberg, pg 1).Everyone tried to sell their stocks on that one day, but banks reassured them, so they kept their stocks. Then on October 29, 1929 is when the Stock Market crashed. The reason it crashed was because people were selling and not buying. Over 16.4 billion stocks were sold that day.
Stock Market Chart Graph
The prices went very low.
Crowd outside on Wall Street
People wondering why the Stock Market crashed.
Car for sale
Someone is trying to sell their car, to make up for the money lost in the Stock Market crash.
Who was involved?
Most Americans, banks and large companies were involved. Most people had a least on share of a stock because they could make a lot of money off of it! But when it crashed, those people lost a lot of money. "As newspapers reported stories of ordinary people - like chauffeurs, maids, and teachers - making millions off the stock market..." (Rosenberg, pg 1)
What did the Stock Market Crash cause?
The Stock Market Crash helped cause the Great Depression. "In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great Depression (1929-39)" (Pg 1) Since billions of people lost money from the Crash, it led into poverty and the Great Depression.