How Did Black Tuesday Affect America

Imagine life is going great and within a second it turns dark and affects you and the millions around you. It was October 29, 1929, now known as “Black Tuesday” when the stock market crashed. The crash happened due to most people buying on credit. Some people got a loan to buy shares. The crash was on Wall Street in New York. All the investors that day lost $14 Billion on the New York Stock Exchange which is equivalent to $199 billion today. After the crash, stock prices continued to fall. People's personal debts were increasing two and a half times faster than their income. In the end, people who got loans didn’t have enough money to pay back the banks. Black Tuesday was one of the biggest causes that led to The Great Depression. The Great Depression hurt America in almost every way possible politically, economically, and socially. This was a huge turning point in American history that will not be forgotten.
“Wages for those who still had jobs fell 42 percent” (Amadeo). Regardless of where you were in America, everyone was affected by the Depression in some way. Young males would normally look for a job, but since it was difficult to be employed, they stayed longer in school. Prostitution was on the rise during this time, it was a way women could manage to pay their bills. Along with prostitution, crime and abandonment rates increased as birth and marriages decreased. Some men saw their way out by abandoning their family or wife and starting a new life on their own. One the other hand, some men waited to propose until they knew they could provide for a family. Out of all the people in America, African Americans suffered the most. More than half of African Americas in the U.S. faced unemployment (PBS.org). The Great Depression had a huge impact on people and society. Many people were left not knowing where to go or what to