The Stock Market crash of 1929 cause a loss of $30 billion in just 2 days. This included $14 billion on October 29 alone. October 29 was known as Black Tuesday and began the 10 year Great Depression.
23 Billion dollars was lost.
by fraud internally or externally or by both in connivance, cash lost in transit.
Banks went bankrupt and shut down, since their stock was now worth nothing if they had any. People who invested all their money into a bank and had it stored there lost EVERYTHING since the banks were shutting down THAT fast. Hope this helps!
Many people thought putting investments in the stock market was a good way to gain money. It was a first, until the stock market crashed and many people lost the money they invested, their jobs, homes, and families.
Yes the banks gave people's money in loans to others who couldn't pay them off. During a banking panic when several went to withdraw their deposits the money was lost in loans to other people.
In 1929 however, the world was overcome by an economic disaster called the Great Depression. In America, factories closed, people lost their jobs, and farmers lost their farms, many banks closed, and people lost their life's savings.
That is what it was. Banks closed, people lost everything, rich became poor, some killed themselves, and thousands were out of work.
They folded, closed, and crashed. People lost millions of dollars and were left without money.
lost money when banks closed; they couldn't find jobs and many resorted to eating out of garbage cans.
Many people lost their jobs, banks where closed or bust, many people lost their money on the stock market crash, people where homeless, to name but a few of the problems from that time.
23 Billion dollars was lost.
The biggest effect was that, the whole economy of USA and many other countries were sent into a recession. People lost their jobs, banks closed, businesses went bankrupt etc. Everyone lost money
Banks are smart? i thought they lost all your money.
on October 29, 1929, $10- $15 billion loss in value and stocks fell drastically. This is when the Stock Market crashed Why did many banks fail after the stock market crashed? because they invested in the stock markets, so when it crashed they lost all their money
The Great Depression
The stock market crashed, banks closed, and millions lost everything they had in the crash.
you would have lost your job and not have any money