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: -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-3: -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-4: -Over the course of four business days-Black Thursday (October 24) through Black Tuesday (October 29)-the Dow Jones Industrial Average dropped from 305.85 points to 230.07 points, representing a decrease in stock prices of 25 percent.

Detailed explanation-5: -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.