oct 29, 1929 - Wall Street Crash

Description:

The USA stock exchange share prices crashed, causing the international Great Depression.

In Germany, it caused:
- German banks to lose money because they had invested heavily in the USA market
- German banks to collapse as people tried to withdraw mass amounts of cash
- the German economy to collapse as German and American banks called in loans to businesses
- trade to decrease due to the worldwide Depression
- unemployment to rise as farms and businesses scaled back or closed
- unemployed Germans to scale back their spending, causing a downward spiral for business
- taxes to be raised
- benefits to be cut
- invested savings to crash
- wages to be cut
- homelessness
- violence

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