oct 29, 1929 - Stock Market Crash

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This was the day that the stock market crashed after some 16 million stocks were traded and billions of dollars were lost. The crash was largely due to wealthy investors playing with the stock market and causing things such as inflation that would bring the stock prices up and they would sell them for profit. While this worked for them for a while, the great danger in this is that the money that these people were using was borrowed and they had their property as collateral. This meant when the stock market crashed, people lost their belongings. The week before there was a scare that the market would crash so people pulled all of their money out, causing it to fall completely. This was the beginning of the era known in the US as the Great Depression, which lasted from 1929-1939 where America was in great economic trouble for a long period of time.

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