29 oct. 1929 - Stock Market Crash

Description:

Throughout the 1920s, the stock market had been doing ridiculously well, and people were investing like crazy, buying and investing on credit. When the stocks crashed on October 29, 1929, banks lost lots of money. This alarmed people, who rushed to banks to withdraw their money. Banks couldn't handle this; by 1933, 4,000 banks had closed. The stock market crash played a big role in causing the Great Depression. President Roosevelt took measures to restore the banks and the economy, but the economy wouldn't fully recover until after WWII.