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The Wall Street Crash of 1929, also known as the Great Crash, Crash of '29, or Black Tuesday, [ 1] was a major American stock market crash that occurred in the autumn of 1929. It began in September, when share prices on the New York Stock Exchange (NYSE) collapsed, and ended in mid-November. The pivotal role of the 1920s' high-flying bull ...
The Wall Street Crash of 1929 is often cited as the beginning of the Great Depression. It began on October 24, 1929, and kept going down until March 1933. It was the longest and most devastating stock market crash in the history of the United States. Much of the stock market crash can be attributed to exuberance and false expectations.
The Great Crash, 1929. The Great Crash, 1929 is a book written by John Kenneth Galbraith and published in 1955. It is an economic history of the lead-up to the Wall Street Crash of 1929. The book argues that the 1929 stock market crash was precipitated by rampant speculation in the stock market, that the common denominator of all speculative ...
By the spring, he was down over $6 million on paper. However, upon the Wall Street Crash of 1929, he netted approximately $100 million. [6] Following a series of newspaper articles declaring him the "Great Bear of Wall Street", he was blamed for the crash by the public and received death threats, leading him to hire an armed bodyguard. [10]
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Sen. Burton Wheeler (left) greets Whitney in 1937. On October 24, 1929, Black Thursday, he attempted to avert the Wall Street Crash of 1929.Alarmed by rapidly falling stock prices, several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor of the New York Stock Exchange. [5]
Economists and historians debate how much responsibility to assign the Wall Street Crash of 1929. The timing was right; the magnitude of the shock to expectations of future prosperity was high. Most analysts believe the market in 1928–29 was a "bubble" with prices far higher than justified by fundamentals.
Wall Street Crash of 1929: 24 – 29 Oct 1929 USA: Lasting over 4 years, the bursting of the speculative bubble in shares led to further selling as people who had borrowed money to buy shares had to cash them in, when their loans were called in. Also called the Great Crash or the Wall Street Crash, leading to the Great Depression. Recession of ...