USA HISTORY

Detailed explanation-1: -The Wall Street Crash of 1929, also known as the Great Crash, the Crash of 29, or Black Tuesday, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended in mid November, when share prices on the New York Stock Exchange collapsed.

Detailed explanation-2: -(1) The stock market crash of 1929 shattered confidence in the American economy, resulting in sharp reductions in spending and investment. (2) Banking panics in the early 1930s caused many banks to fail, decreasing the pool of money available for loans.

Detailed explanation-3: -Business houses closed their doors, factories shut down and banks failed. Farm income fell some 50 percent. By 1932 approximately one out of every four Americans was unemployed.

Detailed explanation-4: -Prices plummeted throughout the day, eventually leading to a complete stock market crash. The financial outcome of the crash was devastating. Between September 1 and November 30, 1929, the stock market lost over one-half its value, dropping from $64 billion to approximately $30 billion.

Detailed explanation-5: -On October 29, 1929, Wall Street experienced Black Tuesday, when investors traded 16 million shares on the New York Stock Exchange and that too in a single day. Thousands of investors were wiped out as billions of dollars were lost.