The stock market crash of 1929 marked the beginning of the Great Depression. Fueled by postwar economic growth and optimism, stock values increased dramatically during the 1920s as more Americans invested in the market. However, stock prices had become inflated and unsustainable. The market crashed on October 24, 1929, known as "Black Thursday", with stocks losing over 20% of their value. The full-scale panic set in on October 29th, "Black Tuesday", with over 16 million shares sold in a single day and stocks losing another 12% as the country plunged into the Great Depression. Unemployment rose sharply and economic output declined drastically over the next few years.
The stock market crash of 1929 marked the beginning of the Great Depression. Fueled by postwar economic growth and optimism, stock values increased dramatically during the 1920s as more Americans invested in the market. However, stock prices had become inflated and unsustainable. The market crashed on October 24, 1929, known as "Black Thursday", with stocks losing over 20% of their value. The full-scale panic set in on October 29th, "Black Tuesday", with over 16 million shares sold in a single day and stocks losing another 12% as the country plunged into the Great Depression. Unemployment rose sharply and economic output declined drastically over the next few years.
The stock market crash of 1929 marked the beginning of the Great Depression. Fueled by postwar economic growth and optimism, stock values increased dramatically during the 1920s as more Americans invested in the market. However, stock prices became inflated and unsustainable. The market crashed on October 24, 1929 in a major panic known as "Black Thursday" and fell further on October 29th "Black Tuesday", wiping out billions in market value. This crash devastated the American economy and led to widespread unemployment, poverty, and despair during the Depression years of the 1930s.
The stock market crash of 1929 marked the beginning of the Great Depression. Fueled by postwar economic growth and optimism, stock values increased dramatically during the 1920s as more Americans invested in the market. However, stock prices became inflated and unsustainable. The market crashed on October 24, 1929 in a major panic known as "Black Thursday" and fell further on October 29th "Black Tuesday", wiping out billions in market value. This crash devastated the American economy and led to widespread unemployment, poverty, and despair during the Depression years of the 1930s.
