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There was over speculation in the Stock Market, which was not regulated, during the 1920s..Many Americans purchased stock on credit. This was known as margin buying. Politicians did not understand the problems facing the economy so they took no action to regulate the purchase and sale of stocks. As people continued to purchase stock, the value of the shares bore little relationship to the actual health of the industry issuing the stock or the over-all health of the American economy. On September 3, 1929, the average price of shares on the New York Stock exchange peaked and then dipped sharply. For a month, prices spurted up and down, mostly down. Then on "Black Thursday," October 24, a record 13 million shares changed hands and values collapsed. The following "Black Tuesday,", October 29, the drop of shares was worse. 16 million shares of stock were dumped on the market (put up for sale). But there were no buyers. The Stock Market collapsed.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoIn a nut shell...
Black Tuesday was a major crash in the stock market. The crash lost many people alot of money. The country flew into a panic, everyone rushed the banks. The banks could not pay out all of the money. Now we have FDIC.
Wiki User
∙ 11y agoBlack Tuesday was the day of the largest crash in the US stock market. It was trigger of the great depression, however it was NOT the underlying cause.
Wiki User
∙ 10y agoThree causes of The Great Depression
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What was a main cause of the Great Depression?
Stock Crash- Black Tuesday- People in debt- Bank Panics Etc.
What were the immediate causes of the Great Depression?
The immediate cause of the Great Depression was the stock market crash of 1929, also known as Black Tuesday.
In the Great Depression what is Black Tuesday?
The worst day in the history of the stock market on 29 October 1929. Also the start of the Great Depression
What is Black Tuesday and why does it mark the beginning of the Great Depression?
"Black Tuesday" is October 29, 1929, when the begining of The Great Depression started and the stock market crashed making it world wide new.
What and when was terrifying Tuesday?
October 29th, 1929. Also called Black Tuesday, the beginning of the Great Depression.
Was there indication of the Great Depression?
black Tuesday
What led to the Great Depression in the 1930?
Black Tuesday.
What was a main cause of the Great Depression?
Stock Crash- Black Tuesday- People in debt- Bank Panics Etc.
A sentence with the word black Tuesday?
Black Tuesday was the beginning of a chair of events that led to the Great Depression
What were the immediate causes of the Great Depression?
The immediate cause of the Great Depression was the stock market crash of 1929, also known as Black Tuesday.
In the Great Depression what is Black Tuesday?
The worst day in the history of the stock market on 29 October 1929. Also the start of the Great Depression
What is Black Tuesday and why does it mark the beginning of the Great Depression?
"Black Tuesday" is October 29, 1929, when the begining of The Great Depression started and the stock market crashed making it world wide new.
What event occured on Black Tuesday?
The Great Stock Market Crash of 1929 occurred on "Black Tuesday."
What and when was terrifying Tuesday?
October 29th, 1929. Also called Black Tuesday, the beginning of the Great Depression.
What was Black Tuesday and what do many believe it led to?
black Tuesday is the day the stockmarket crashed. many believe it led to the Great depression
Is black tuesday a holiday?
Black tuesday was not a holiday it was more like the stck market crashed and thats when the great depression started
Did Wall Street stock market collapse of 1929 led to the Great Depression true or false?
True, it was a cause of the Great Depression.
