USA HISTORY

Detailed explanation-1: -Black Tuesday is the stock market crash that occurred on October 29, 1929.

Detailed explanation-2: -Black Tuesday marked the beginning of the Great Depression, which lasted until the beginning of World War II. Causes of Black Tuesday included too much debt used to buy stocks, global protectionist policies, and slowing economic growth.

Detailed explanation-3: -The main cause of the Wall Street crash of 1929 was the long period of speculation that preceded it, during which millions of people invested their savings or borrowed money to buy stocks, pushing prices to unsustainable levels.

Detailed explanation-4: -On October 29, 1929, “Black Tuesday” hit Wall Street as investors traded some 16 million shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors. The panic selling reached its peak with some stocks having no buyers at any price.

Detailed explanation-5: -Many investors-both institutional and individual-had borrowed or leveraged heavily to buy stocks, and the crash that began on Black Thursday wiped them out financially, leading to widespread bank failures. That, in turn, became the catalyst that sent the United States into the Great Depression of the 1930s.