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2 clusters · 15 sources · 6 days · First seen · Last updated
Wall Street Crash of 1929
Overview
The stock market crash of October 1929, initiated by Black Thursday, marked a major turning point in global economic history. Following a period of intense speculation and a disconnect between share prices and company values, the New York Stock Exchange experienced a massive wave of panic selling. Within one week, the market lost approximately 40 percent of its value.
The collapse culminated on October 29, known as Black Tuesday, when approximately 16.4 million shares were traded. This catastrophic event contributed to the onset of the Great Depression, characterized by widespread bank failures, liquidity crises, and massive unemployment.
The economic downturn had specific industrial consequences, such as in the automotive sector, where luxury manufacturers like Cadillac, Marmon, and Duesenberg were left with significant tooling costs for high-end models after their prestige market vanished. The crisis eventually led to the implementation of the New Deal to restore economic confidence.
Entities
New York Stock Exchange · Wall Street · Dow Jones Industrial Average · United States · Franklin D. Roosevelt
Timeline
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[BUSINESS] 6 sourcesWall Street Crash of 1929 and its impact on the US economy
The October 1929 Wall Street crash triggered the Great Depression, causing massive stock losses and devastating luxury industries like automotive manufacturing.
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[BUSINESS] 9 sourcesWall Street Crash of 1929 triggers the Great Depression
The 1929 Wall Street crash, starting on Black Thursday, triggered the Great Depression following a period of intense speculation and a massive market collapse.
Sources
autocult.fr · aventurasnahistoria.uol.com.br · biznisinfo.mk · disinformazione.it · doutorfinancas.pt · entrevue.fr · europesays.com · fakti.bg · libertas.mk · marianne.cz · novini247.com · rador.ro · reportediario.cl · toysforlife.co.nz · trn.mk