The Crash of 1929

The Stock Market Crumbles

“Bull” Market – like a “bull” charging ever upward

in Sept., American stocks began to decrease in value

Cdn. stocks did, too

Investors start to lose confidence in the companies they’d invested in

“Bull” Market – like a “bull” charging ever upward

wanted to sell stocks before the stock prices fell further

Investors panicked and started unloading large quantities of stocks

Black Thurs., Oct. 24

Winnipeg Grain Exchange collapsed

Widespread panic

Black Tues., Oct. 29

widely recognized as THE Crash

NY (Wall Street), Toronto and Montreal stock exchanges crashed

stocks are worthless

TSX dropped $1 million/minute on 16 key companies

Results

financial ruin for investors

investors who bought stocks on margin now owed money to stockbrokers, couldn’t pay

stockbrokers couldn’t sell stocks to survive

in Canada, relatively few people owned stocks, but millions were affected by the results of the Crash of ’29.

1929

Beginning of the Great Depression

farmers stop buying manufactured goods

manufacturers cut back on production

workers let go or salaries reduced

less money to buy goods

Less manufactured goods bought

And so on, and so on…