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The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
In the United States, the Great Depression began with the Wall Street Crash of October 1929 and then spread worldwide. The nadir came in 1931–1933, and recovery came in 1940. The stock market crash marked the beginning of a decade of high unemployment , famine, poverty, low profits, deflation , plunging farm incomes, and lost opportunities ...
September 20: The London Stock Exchange crashes after the collapse of Hatry Group on charges of fraud and forgery. £24 million in value is wiped out. The collapse shakes the confidence of American investors in the security of overseas investments. October 24: Wall Street Crash of 1929 begins. Stocks lose over 11% of their value upon the ...
After the Wall Street Crash of 1929, when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with the Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932.
Hirshhorn went to work as an office boy on Wall Street at age 14. Three years later, in 1916, he became a stockbroker and earned $168,000 that year. [3] A shrewd investor, he sold off his Wall Street investments two months before the collapse of 1929, realizing $4 million in cash. [3] Hirshhorn made his fortune in the mining and oil business.
The Minneapolis Tribune article referred to Thornton's face as one of the most well-known in America, due to his ubiquitous presence in 1920s advertisements. [6] In 1928, Thornton created a small "head factory" (Walter Thornton & Co.) in a brownstone building near Grand Central Station, where he hand-crafted and sold plaster copies of his own head until 1931.
October 24–29 – Wall Street Crash of 1929: Three multi-digit percentage drops wipe out more than $30 billion from the New York Stock Exchange (10 times greater than the annual budget of the federal government). October 24 – The Mount Hope Bridge, connecting Portsmouth to Bristol in Rhode Island, opens to traffic.
The 1920s (pronounced "nineteen-twenties" often shortened to the "' 20s" or the "Twenties") was a decade that began on January 1, 1920, and ended on December 31, 1929. . Primarily known for the economic boom that occurred in the Western World following the end of World War I (1914–1918), the decade is frequently referred to as the "Roaring Twenties" or the "Jazz Age" in America and Western ...