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Crowd at New York's American Union Bank during a bank run early in the Great Depression. Together, the 1929 stock market crash and the Great Depression formed the largest financial crisis of the 20th century. [45] The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. [46]
The Wall Street Crash of 1929 is often cited as the beginning of the Great Depression. It began on October 24, 1929, and kept going down until March 1933. It was the longest and most devastating stock market crash in the history of the United States. Much of the stock market crash can be attributed to exuberance and false expectations.
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.
On this day in economic and business history... This is part two of a deep look at the Roaring '20s and the Crash of 1929 -- click here to start with part one. The Dow Jones Industrial Average ...
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Nothing is more appealing to stock market investors than the idea that they can predict the future. Recently, several market analysts have argued that the Dow Jones Industrials is setting itself ...
Economic forecasters throughout 1930 optimistically predicted an economic rebound come 1931, and felt vindicated by a stock market rally in the spring of 1930. [1] The stock market crash in the first few weeks had a limited direct effect on the broader economy, as only 16% of the U.S. population was invested in the market in any form.
I've been in the Library of Congress lately reading financial newspapers from the week of the October, 1929 stock market crash that ultimately crushed the Dow Jones by nearly 90%. Last week, I ...