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What happened to many of the poor after the the stock market crashed?
Wiki User
∙ 9y ago
If they worked for the rich, they might have lost their job. But then again, many people lost their jobs.
Wiki User
∙ 9y ago
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Why did many banks fail after the stockmarket crashed?
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
How did the stock market impacted the people in 1929?
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.
Why ans how did the stock market destroy the lives of many people in october 1929?
It was during this time period that the stock market crashed, causing many people who had invested in the stock market to lose a lot of money.For example, say you bought 2,000 shares of a stock back then for $2.00 a share (figuratively). You have invested $4,000 in the stock of this company. When the stock market crashed, the price of this stock dropped to $.05 a share, but you still have 2,000 shares of it. What was worth $4,000 days ago is now worth $100, causing you to lose $3,900 in a matter of a few days.
How would you describe the stock market crash?
When the stock market crashed many Americans faced problems. Problems such as homeless, being poor, jobless, ect. The crash was indeed very bad for America.
How did the increase in stock prices during the 1920s affect many stock market speculators?
Many speculators made good money during the rise. Some got over confident and increased their leverage by borrowing and investing the proceeds. Most of these lost big when the market eventually crashed. Some speculators, however, made short-sales and became richer as the market crashed.
What happened in America on October 29 1929?
October 29, 1929 is known as Black Tuesday. It is the day of the Great Wall Street Crash of 1929. It is known as the worst day in stock market history. Investors panicked and everyone starting selling their stocks all at once. Panic hit the country and over 16.4 million shares of stock were sold. Since everyone was selling and nearly no one was buying, stock prices collapsed. It is a day that devastated the economy and was a main factor in the beginning of the Great Depression.
What was the impact of installment?
Installments rates were so high, People, when the stock market crashed couldn't afford the payments, hence forclosures of many homes.
What year did the american stock market crash?
AnswerThe stock market collapsed in 1929 at the peak of the Great Depression.AnswerOctober 1929.
Why did the stock markets crash?
It crashed because too many Stock Brokers wanted to sell their stocks at one time. So when too many people did that, the banks didn't have enough money and it crashed. -Jennifer
What was the 1929 stock market like?
The 1929 stock market crashed and the roaring 20s weren't so much roaring any more! That stock market crash led to the Great Depression and sent many to their knees.Stocks more than quadrupled from 1920 to 1929 and greedy investors were taking out numerous loans to buy more stock and when the stocks plummeted they lost all of that money they took out loans for. Not a good time for anyone!
Why were African-Americans particularly harmed when the stock market crashed?
On October 29, 1929, the United States stock market crashed in an event known as Black Tuesday. This began a chain of events that led to the Great Depression, a 10-year economic slump that affected all industrialized countries in the world. The 1920s had been a time of wealth and excess in the United States of America, and stock prices had risen to unprecedented levels. This encouraged many people to speculate that the market would continue to rise. Investors borrowed money to buy more stocks. As real estate values declined during the late 1920s, the stock market also weakened. When stock prices started to slide on October 29, people rushed to sell their stock and get out of the market, which drove prices down even further. This cycle led to more and more “panic selling,” until the stock market fell to its lowest point in history.
What happened in 1929 and what was its aeffect?
In 1929 the stock market crashed causing the Great Depression which lasted more than 10 years. People at that time had very little to eat and very little money. Many times the only thing for dinner was cabbage and turnips. People wore clothes until they became rags. This was the case for many people.
