Economic crash in the late 1920’s ~ 30’s
Originated from the Black Thursday
Triggered by stock market collapse
Also known as the Great Crash or Wall Street
Crash of 1929
The worst stock market crash in the United
The start of the whole Great Depression
After the WWI companies bought stocks
Economic bubble was created
On October 24th, 1929, the Bubble burst at once
Prices of the stocks dropped suddenly and
Dow dropped to 64
Companies were broke
Workers lost their job
Supply and Demand:
Workers lose their job → People spend less
money → Economic depression → Decrease of
investment → Increase of unemployment
Within 2 years, wages were reduced by half
Import and export was reduced by 1/3
Factories stopped operating
Many banks perished
Instead of playing stock, they saved money in
As the banks fall, all the savings were gone
Many people committed suicide for multiple
“Jumping out of windows”
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