WORLD HISTORY

Detailed explanation-1: -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.

Detailed explanation-2: -On Black Monday, October 28, 1929, the Dow Jones Industrial Average declined nearly 13 percent. Federal Reserve leaders differed on how to respond to the event and support the financial system. The Roaring Twenties roared loudest and longest on the New York Stock Exchange. Share prices rose to unprecedented heights.

Detailed explanation-3: -Great Depression Panic selling began on “Black Thursday, ‘’ October 24, 1929. Many stocks had been purchased on margin-that is, using loans secured by only a small fraction of the stocks’ value. As a result, the price declines forced some investors to liquidate their holdings, thus exacerbating the fall in prices.

Detailed explanation-4: -Black Tuesday refers to a precipitous drop in the value of the Dow Jones Industrial Average (DJIA) on Oct 29, 1929. Black Tuesday marked the beginning of the Great Depression, which lasted until the beginning of World War II.

Detailed explanation-5: -The Great Depression is referred to as the greatest and also the longest economic downturn or recession in modern history. It started in the USA. After that, it had a rippling effect on the economies of the world. It is said that the Great Depression started with the USA stock market crash in October 1929.