Stock+Market+Crash+Notes

"Black Tuesday" - October 29th, 1929 The Stock Market Crash


 * This is the point where the "Roaring Twenties" ends and the Great Depression begins
 * The Stock Market was popular with many people in the 20's.
 * In August of 1929 a few people began selling off their stocks. This trend continued in September and by October people began to panic. Now everyone was selling and stock prices tumbled.
 * People who had bought on margin were now asked to pay what they owed back with a margin call. Many couldn't pay their debts and sold other stocks to pay off their debts.
 * By the end of 1929 somewhere around 15 billion dollars was lost in the Stock Market.
 * People lost everything overnight.
 * Ultimately many banks began to fail and closed their doors as many banks had invested heavily in the Stock Market.
 * People lost confidence in the Market, the banks and in the economy in general.