Business, Legal & Accounting Glossary
The name for the period lasting from October 29th to November 13th in 1929 during which the stock market dropped violently, losing much of its value and contributing to the start of the Great Depression. The Crash of 1929 was the impetus for a great number of reforms and regulations related to securities trading.
The Crash of 1929 took place from September through November 1929, when the Dow shed over one-third of its value from its high of 381 on 9/3/29. The Crash of 1929 officially began on Black Thursday, October 24, when $9 billion in market losses occurred and 11 speculators threw themselves out their skyscraper windows. The Dow closed at 299 as the Crash of 1929 got underway. The following week the Crash of 1929 gained momentum. Black Monday saw a record 13% loss and Black Tuesday 12%. By the end of the Crash of 1929 and ensuing market collapse, in July 1932, the Dow had dropped 89% to 41. The losses that began with the Crash of 1929 weren’t recouped until November 1954. The most common explanations for the Crash of 1929 include easy monetary policy, margin calls and speculative fever. The Crash of 1929 foreshadowed the Great Depression.
You should do some research on what happened before and after the crash of 1929 and learn from how it changed things.
In an effort to show up his more vocal critics and their accusations he was incapable of painting anything joyful, Mr. Gogh chose the Crash of 1929 for the subject of his next masterpiece.
The Roaring 20’s was a decade of American exuberance marked by wild speculation and a reckless drive for profits, all of which came to a precipitous end with the Crash of 1929.
Black Tuesday
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This glossary post was last updated: 26th October, 2021 | 0 Views.