Wall Street Crash of 1929

About

The Wall Street Crash of 1929 was a pivotal event in economic history, marking the beginning of the Great Depression. It started on "Black Thursday," October 24, 1929, with stock prices plummeting. Panic selling ensued, culminating in "Black Tuesday," October 29, when over 16 million shares were traded. The crash was fueled by over-speculation, debt expansion, and economic imbalances, including agricultural overproduction and low consumer spending. The crash led to widespread bank failures, massive job losses, and a significant decline in global economic output. It prompted reforms like the Glass-Steagall Act. The Great Depression lasted until World War II, affecting economies worldwide. The crash remains a critical lesson in financial regulation and economic stability, highlighting the risks of unchecked speculation and the importance of robust financial safeguards.