WORLD HISTORY

Detailed explanation-1: -On October 29, 1929, the United States stock market crashed in an event known as Black Tuesday. This began a chain of events that led to the Great Depression, a 10-year economic slump that affected all industrialized countries in the world.

Detailed explanation-2: -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-3: -The crash was most devastating on two days: October 24th, which became known as Black Thursday, and October 29th, called Black Tuesday. The event marked the beginning of the Great Depression, a worldwide decade-long economic depression.

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.