Stock Market Crash 1929By: Keltie Ryan

Up until then:Stocks, shares and other forms of investing

were seen as a safe way to make good money…FAST. Everyone and their dog had at least one or two stocks purchased.

Banks, and financial institutions solicited people into buying stocks and shares.

The signs of trouble ahead Volatile market in May & June

Wheat prices started to fall

Exportation was slowing

The signs pointed to a certain rescission. Although people and investors didn’t really take notice because the stocks only went up…or so they thought...

The Day the Stocks CrashedOn October 24, 1929 panicked investors

started selling like crazy because of the stock boom had been an over inflated bubble.

Everyone was liquidating their shares but failed to sell. Stocks that made men millionaires instantly became bankrupt.

Not only the stocks suffered however, banks that held their patrons savings had been lost…although the banks tried to no avail to save the money the damage was already done.

Effects of the CrashWith banks in shambles and so much money

lost, the economy was sent into a rapid downward spiral.

Eventually jobs were lost and 1/3 of the United States of American public was below poverty. Once millionaires were now on the streets selling fruit and supplies

This lead to the Great Depression.

Works Citedhttp://images.businessweek.com/ss/07/04/0426

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http://www.stock-market-crash.net/1929.htmhttp://canadianeconomy.gc.ca/English/economy

/1929stock.html

http://www.zachariel.nl/graphics/w4WallStreet.jpg