1929:
The year that changed it all
In October of 1929, the stock market on Wall Street crumbled. Many reasons surrounded the crash, one being that out of the 120 million citizens of America, only 1.5 million were investors - that is only 1.25%. Another factor was that Wall street had encountered a Bull Market, which is a steadily rising value of stock market prices triggered by investor confidence. Many of these investors gambled all of their money on the stock market, so they became nearly bankrupt when it crashed. The stock market crash became known as Black Tuesday.
A PBS video closely depicts the
stock market crash and the detrimental effects it had: |
The picture to the left displays the crash of the stock market in 1929, based on the Dow Jones scale. Created by Charles Dow, the Dow Jones Industrial Average (DJIA) is one of many stock market indexes and averages 30 major stocks (Williamson 1).
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