People felt very confident in the stock market and put their whole life savings into them thinking that nothing could go wrong. Every person, and almost everything they owned was being invested in the Stock Market. On 5 March 1925 a minor crash hit the Stock Market. The country panicked as the Stock Market prices began to drop, but when a banker Charles Michelle announced that he would keep lending, the commotion stopped.
By the spring of 1929, there were many signs showing the country that the economy was in trouble. Steel production went down, house construction slowed, and car sales decreased. On 24 October 2015 Stock Market prices began to plummet into the ground. The country went into a panic. A large number of people started selling their stocks, margin calls were being made, and people watched as the ticker ticked to their doom.
Then, on 29 October 1929 “Black Tuesday” hit, which is known as the worst day in stock market history. When this day hit, a large mass of people were in a panic to sell their stocks, but since everyone was only selling and people were no longer buying, the stock market prices crashed. The country was in complete shock and rushed to sell their stocks as fast as possible, that over 16.4 million shares sold. After this, the stock market closed for a few days on 1 November 2015. It reopened on 4 November 1929 for only a few hours and stocks dropped again. Over the next two years the stock market would continue to drop.
The stock market crash devastated the economy of our country. People lost their entire life savings, businesses, homes, land, and had even reached the brink of suicide. Years after the crash, regulations on buying stocks were added, and protection to those stocks in case of another crash.
By the spring of 1929, there were many signs showing the country that the economy was in trouble. Steel production went down, house construction slowed, and car sales decreased. On 24 October 2015 Stock Market prices began to plummet into the ground. The country went into a panic. A large number of people started selling their stocks, margin calls were being made, and people watched as the ticker ticked to their doom.
Then, on 29 October 1929 “Black Tuesday” hit, which is known as the worst day in stock market history. When this day hit, a large mass of people were in a panic to sell their stocks, but since everyone was only selling and people were no longer buying, the stock market prices crashed. The country was in complete shock and rushed to sell their stocks as fast as possible, that over 16.4 million shares sold. After this, the stock market closed for a few days on 1 November 2015. It reopened on 4 November 1929 for only a few hours and stocks dropped again. Over the next two years the stock market would continue to drop.
The stock market crash devastated the economy of our country. People lost their entire life savings, businesses, homes, land, and had even reached the brink of suicide. Years after the crash, regulations on buying stocks were added, and protection to those stocks in case of another crash.