October 29, 1929, September 27 (Baba), the world economic crisis.






sign erected in the car wrote: $ 100 to buy this car. Rank everything in the stock market on the funeral, much-needed cash. "
Occurred in October 1929 Wall Street crash, perhaps suffered the greatest disaster of the financial world. In the 18 months before the fatal day arrives, the Wall Street stock market bull market seems to be unshakable, the pursuit of fast with the large number of speculators flocked into the stock market, a lot of profits, stock prices of some major industrial actually has more than doubled. Within a period of time, the daily turnover of up to 50O million shares. With investors a lot of money scattered into the stock market, some funds also hurried to withdraw from less profitable investment into the stock market. European funds flood poured into the United States, about 8O-billion supply Securities commercial banks total loans in the New York stock market transactions. Shortly after President-elect Herbert - Hoover had tried to control the stock market by refusing to lend money to those who finance speculative bank, but stock prices continued to surge to reach the highest point in history, to September 3, 1929. Volume of more than 800 million shares in the same day. (History TodayOnHistory.com)
the same month, the stock market price for the first time began to decline, but the statement of experts and government has assured the public that nothing worth making a fuss. They are wrong. On October 24, the stock market fall to the bottom. With the drastic devaluation of the speed of the stock market to a daily average of 18 points, panic enveloped the Wall Street. As speculators flocked strive to sell their shares before the share price fall lower, the ticker has not keep up with the rapid decline of the stock market the stock market. Only one day on October 24, took place 12 million deal, the coalition of a bank to take prompt action to control the situation, but this is just a temporary delay. Stock right again soon began relentless decline, or even a sharp drop in the average of 40 percent to 29 October. With some major stock price is reduced by more than 2/3 of the collapse of the first month will be $ 26 billion in the stock market come to naught. Millions of Americans watched their life savings disappear in a few days. But this is only the first round of the Great Depression terrible blow.
the past, the United States also experienced a stock market panic and financial depression, but none like this one, such a profound impact on the lives of ordinary citizens in the United States, followed by the Great Depression will most personal trapping difficult. the
"Brooklyn Daily Eagle newspaper published in the Wall Street stock market crash, panic the headlines
anxiously watching the movements of the Wall Street financial community people Wall Street brokerage line customers in
anxiously browsing the newspaper, understanding the stock market crash the latest news
not all gathered in front of the New York Stock Exchange on October 24 the sidewalks people are seem panicked