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People were worried that the Stock Market crash put their money at risk which made them rush to the bank to pull out all their money and it made the banks lose all their money and forced them to declare bankruptcy and many ended up crashing.
What else can I help you with?
What was a long term of the stock market crash?
Many banks closed.
What was a long term effect of the stock market crash?
The long term effect of the Stock Market crash was followed by the Great Depression.
What was a long term affect of the stock market crash?
Many banks were closed
Why were the banks one of the first institutions to feel the effects of the stock market crash?
Banks were one of the first institutions to feel the effects of the Stock Market crash because people feared for their money and rushed to withdraw their savings.
Why were banks one of the first institutions to feel the effects of stock market crash?
Banks were one of the first institutions to feel the effects of the Stock Market crash because people feared for their money and rushed to withdraw their savings.
What was the cause of the stock market crash?
Economy prices
Which was a direct cause of the Great Depression?
the stock market crash
Do you think the nation would have experienced depression even if the stock market had not crashed?
Yes. The stock market crash did not cause the depression. Instead the economic crisis and the depression caused the stock market crash
Where when and why did the Great Depression begin?
In October of 1929 with the crash of the stock market.
What was a long-term effect of the stock -market crash?
Many banks were closed. The country entered into a depression.
What was long term effect of stock market crash?
Many banks were closed. The country entered into a depression.
Why did banks close after the stock market crash of 1929?
Banks closed after the stock market crash of 1929 primarily due to a loss of confidence and a liquidity crisis. Many banks had invested heavily in the stock market and suffered significant losses, leading to insolvency. As depositors rushed to withdraw their savings, banks faced a run, depleting their cash reserves and forcing them to shut down. This exacerbated the economic downturn and contributed to the Great Depression.
