USA HISTORY

Detailed explanation-1: -What is Wall Street Crash? 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.

Detailed explanation-2: -A crowd of investors gather outside the New York Stock Exchange on “Black Tuesday"-October 29, when the stock market plummeted and the U.S. plunged into the Great Depression. On October 29, 1929, the United States stock market crashed in an event known as Black Tuesday.

Detailed explanation-3: -Black Tuesday was the starting point of the Great Depression that hit the economies of the United States and other countries across Europe.

Detailed explanation-4: -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-5: -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.