The Market Crash - A Week of Chaos (24 ottob 1929 anni – 29 ottob 1929 anni)

Descrizione:

The market had started to show signs of decline as early as Spring of 1929. The Fed warned of "excessive speculation", and the market took a hit, exposing its faulty foundation. In September, a financial expert predicted a terrific crash, and he was right. It started on Black Thursday, October 24. The market lost 11% of its value, but regained most of it by the end of the day, thanks to Richard Whitney buying 25000 shares of US Steel. On Black Monday, October 28, more investors started to pull out of the market, and the DOJ lost 12.82% of its value. Black Tuesday is when it all came apart, losing 23% in two days, The market actually, steadily increased for sometime after this, but lost 89.2% over the next 3 years. This week would launch the opening stages of the Great Depression, and a decade of American suffering.

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