How Did Black Tuesday Contribute To The Great Depression

It was on the 24th of October 1929 where nearly the whole world experienced a huge economic collapse and a global trading stock market downfall. That’s when approximately 12.9 million shares of stock were sold in one day. It was over double the usual amount, over the next 4 to 5 days’ global stock prises fella whopping 23%. Statistics showed by 1933, unemployment had risen from a low 3% to a staggering 25%. The great depression was one of the most worldwide effected economic downfalls that challenged mainly America and throughout Europe’s social state, financial state and trading system.
It was 1929, USA. The depression was caused by a number of serious weaknesses in the economy. It was beginning with a catastrophic collapse of stock market prices in October 1929. Black Tuesday refers to October 29, 1929, when rushed sellers traded nearly 16 million shares on the New York Stock Exchange. Black Tuesday is often cited as the beginning of the Great Depression. The stock market crash of 1929 was not the main cause of the Great Depression, but immensely contributed to the beginning of the great depression. By 1933, almost half of America's banks had nosedived, and unemployment was
This was known as the new deal. New Deal definition. A group of government programs and policies established under President Franklin D. Roosevelt in the 1930s; the New Deal was designed to improve conditions for persons suffering in the Great Depression. The great depression’s recovery procedure used the new deals 3 R’s. Relief, Recovery, and Reform: relief for those who suffered unemployment and poverty, recovery of the economy to naturalise from drastic levels to normal levels, and reform of the financial system to prevent history repeating itself. The new deal empowered the public to work as one to overcome the worlds