The stock market crash: black tuesday
- The Dow Jones Industrial Average collapsed
- selloff continued until 1932 where the DJIA reached 89% of it's 1929 peak
- businesses went bankrupt
- banks closed
- depression began
Spontaneous panic allowed a thriving and somewhat stable american stock exchange to crash instantaneously and the entire economy and therefore every American, regardless of whether they had money in stocks, would feel the effects.
"The country is not in good condition"- Calvin Coolidge
What if panic hadn't set in and people hadn't began selling suddenly? Would there have been a crash?
What if panic hadn't set in and people hadn't began selling suddenly? Would there have been a crash?