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Stock Market and Great Depression
The 1930s were dominated by the Great Depression which affected every aspect of life
The Great Depression was triggered by the stock market crash of 1929
Stock Market and Great Depression
Why did the stock market crash?
People bought stock on the margin and only owned a small portion of their stocks (Speculation)
Stock Market and Great Depression
Many people couldn’t find money to cover their loans so everyone sold their stock
Great Crash: The day that the stock market started to plunge
Stock Market and Great Depression
October 29th 1929: Black Tuesday
Stocks fell by $16 million dollars
This day started the Great Depression
Stock Market and Great Depression
Causes:
Weakness in the economy
Unequal Distribution of Income
Excessive Buying on Credit
Overproduction by American businesses
Buying stocks on the margin (Speculation)
Stock Market and Great Depression
What happened to America?
Farm prices dropped
Unemployment hit the railroads, coal, and textile factories
Automobile sales virtually stopped
Stock Market and Great Depression
The Gov’t and President Hoover did all of the wrong things to try and end the Depression
Hoover rejected giving gov’t money to the unemployed and instead said volunteers and charities should provide relief.
The lowest point occurred in 1932 at the end of Hoover’s term