Stock Market Crash

Oct. 29, 1929

Black Tuesday

• Stock market collapsepeople panic/lost faith and sold=stock prices go down

• People were trying to sell shares=nobody wanted to buy

Stock on Credit

• People bought stock on credit (money they didn’t have)=huge debt

• Others lost entire savings in the market

Money Lost

• Mid November 1929investors lost $30 million=amount of money spent by USA on WWI!!!!

Results of the Crash

• Signaled the “Great Depression”

• People panicked/withdrew their money from banks

• Banks invested their money into stock market=didn’t have enough to pay the people

People pulling money out of bank!

Results of the Crash

• 1929=600 banks fail

• 1932=25,000 banks fail

• Banks were not insured/when they failed people lost all of their money!