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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.
A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday, the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop.
Money supply decreased significantly between Black Tuesday, October 24, 1929, and the Bank Holiday in March 1933 when there were massive bank runs across the United States. The causes of the Great Depression in the early 20th century in the United States have been extensively discussed by economists and remain a matter of active debate. [1]
, "The Causes and Cures of Unemployment in the Great Depression", Journal of Interdisciplinary History (1989) 19(553–83) online; Kennedy, David. Freedom from Fear: The American People in Depression and War, 1929–1945 (1999), wide-ranging survey by leading scholar; online; Klein, Maury. Rainbow's End: The Crash of 1929 (2001) by economic ...
October 24: Wall Street Crash of 1929 begins. Stocks lose over 11% of their value upon the opening bell. October 25–27: Brief recovery on the market. October 29: 'Black Tuesday'. The New York Stock Exchange collapses, the Dow Jones closing down over 12%. October 30: one day recovery
Ted Weisberg and Chris Hogan reflect on the start of the Great Depression 90 years ago and where the U.S. economy currently stands.
Black Tuesday (October 29, 1929) was the highest trading volume day of the Wall Street Crash of 1929 on the New York Stock Exchange. Black Tuesday may also refer to: Black Tuesday, a 1954 film starring Edward G. Robinson; Black Tuesday (1912), on which a union conflict in New Zealand led to the death of Fred Evans; Black Tuesday (1931), on ...
Some explanations of Black Friday claim that the holiday references a 19th-century term for the day after Thanksgiving, during which plantation owners could buy slaves at discount prices.