The Great Depression (oct 29, 1929 – jan 1, 1941)
Description:
This was the biggest downturn in the world's economy ever, lasting around 10 years. It began in the USA and spread to the rest of the world. It happened when people rapidly invested in stocks, and they became worth much more than they actually were. As the stock prices began to fall in September 1929, people began rushing to sell their stocks. As people sold more and more, the value of the stocks declined to only 20% of their previous price.Many people went jobless, hungry, and homeless on account of the Great Depression, and people only made a comeback after the start of WW2.
Added to timeline:
Date:
oct 29, 1929
jan 1, 1941
~ 11 years