WORLD 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 (NYSE) collapsed.

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: -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 was Oct. 29, 1929, and it was marked by a sharp fall in the stock market, with the Dow Jones Industrial Average (DJIA) especially hard hit in high trading volume. The DJIA fell 12%, one of the largest one-day drops in stock market history.

Detailed explanation-5: -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.