USA HISTORY

Detailed explanation-1: -Known as Black Thursday, the crash was preceded by a period of phenomenal growth and speculative expansion. A glut of supply and dissipating demand helped lead to the economic downturn as producers could no longer readily sell their products.

Detailed explanation-2: -By then, production had already declined and unemployment had risen, leaving stocks in great excess of their real value. Among the other causes of the stock market crash of 1929 were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated.

Detailed explanation-3: -Equally relevant issues, such as overpriced shares, public panic, rising bank loans, an agriculture crisis, higher interest rates and a cynical press added to the disarray. Many investors and ordinary people lost their entire savings, while numerous banks and companies went bankrupt.

Detailed explanation-4: -The stock market crash of 1929 had a devastating effect on the culture of the 1930s. As investors, businesses, and farms lost money, they started to shutter and lay off workers. Banks closed as well. The Great Depression began in the 1930s, leading to soup kitchens, bread lines, and homelessness across the nation.