1 jun 1929 ano - Great Depression

Descrição:

The Great Depression was a severe economic downturn that started in the United States and eventually extended worldwide. The prices on the stock market started to decline and there was a huge rush to sell stocks quickly. On October 24th, 1929 investors panicked to sell their shares and a record 13 million shares were sold in one day. The following Tuesday (October 29th) more damage was done when 16 million shares were sold off and the value of the stock market fell dramatically, which started the Great Crash of 1929. Economic depression begins to hit countries around the world. People are unable to pay back loans from the bank, people reduce the amount of money that they are spending and this leads to a decline in production by manufacturers. Living standards around the world drop as demand for goods and services decrease, and unemployment starts to increase. It took almost 4 years for economies around the world to start to recover from the Depression.

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