USA HISTORY

Detailed explanation-1: -stock market crash of 1929, also called the Great Crash, a sharp decline in U.S. stock market values in 1929 that contributed to the Great Depression of the 1930s.

Detailed explanation-2: -The stock market crash of 1929 was not the sole cause of the Great Depression, but it did act to accelerate the global economic collapse of which it was also a symptom.

Detailed explanation-3: -The epic boom ended in a cataclysmic bust. On Black Monday, October 28, 1929, the Dow declined nearly 13 percent. On the following day, Black Tuesday, the market dropped nearly 12 percent. By mid-November, the Dow had lost almost half of its value.

Detailed explanation-4: -The 1929 crash didn’t cause the Great Depression outright, with only 16% of Americans invested in the market, but it lowered consumer spending, caused panic that worsened an ongoing recession, reduced corporations’ assets and hurt their future prospects, and contributed to a banking crisis.

Detailed explanation-5: -Among the suggested causes of the Great Depression are: the stock market crash of 1929; the collapse of world trade due to the Smoot-Hawley Tariff; government policies; bank failures and panics; and the collapse of the money supply.