By: Sydney Barbina
The Great Depression (1929-1939) was the deepest and longest-lasting economic downturn in the history of the Western industrialized world. In the United States, the Great Depression began soon after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors.
A few facts
the great depression was from 1929 to 1939, many people lost their jobs due to the stock market crash. On Monday, October 29, on 16.4% shares traded, the markets fell 11.5%. By that time, the markets closed at 230.17 down 40% from its all time high. In that single day, investors lost 14 billion dollars and by the end of 1929, 40 billion dollars was lost. This crash put a lot of pressure on banks and caused a great deal of money to be taken out of the economy.