REVISION IGCSE CAMBRIDGE HISTORY: WALL STREET CRASH

1. WALL STREET
CRASH
IGCSE HISTORY
REVISION

2. DEFINITION
Wall Street Crash was a sudden collapse in 1929 of the New York Stock
Exchange leading to worldwide economic depression.

3. Question 1
What triggered this event?

4. Answer 1
A panic on the stock market.
Millions of shares changed hands and the market collapsed.

5. Question 2
List four consequences of the Wall Street
Crash.

6. Answer 2
Shareholders were ruined.
Many banks went broke.
Personal savings were wiped out.
Unemployment skyrocketed.

7. Question 3
How did people paying for goods
in instalments contribute to the
disastrous aftermath of the crash?

8. Answer 3
People who became unemployed could not keep up their repayments, so
their goods were repossessed.

9. Question 4
Did the crash impact on Europe?

10. Answer 4
Yes. US companies reacted by withdrawing their overseas investments
and international relations worsened.

11. Important
While the Wall Street Crash was an important feature of the interwar
economic crisis, it did not in itself cause the Depression.