Black Tuesday And The Great Depression
The United States has experienced recessions before. If a recession is particularly deep and long lasting it is called a depression. The worst U.S. depression was The Great Depression. The Great Depression began with the stock market crash. In 1929 Black Tuesday affected Americans nationwide.
Before the stock market crashed it reached a record high on September 3rd 1929. After that the stock market began a slow but steady decline. Although there were small rallies of increased value, the decline continued through September and October. By the end of October fear and apprehension began to mount among all investors. As more and more brokers demanded their money with margin calls, values continued to drop. The market was riddled with instability.
Before the stock market crashed it reached a record high on September 3rd 1929. After that the stock market began a slow but steady decline. Although there were small rallies of increased value, the decline continued through September and October. By the end of October fear and apprehension began to mount among all investors. As more and more brokers demanded their money with margin calls, values continued to drop. The market was riddled with instability.