10 Facts about Black Tuesday
Let’s find out the interesting facts about Black Tuesday by reading the below post. The Black Tuesday is the common term used to call the Wall Street Crash. Some people called this miserable event as Stock Market Crash of 1929 or Great Crash. Check out more details about Black Tuesday in the following post:
Facts about Black Tuesday 1: the beginning of Black Tuesday
Black Tuesday started on 24 October 1929. In the American history, it was considered as the most severe stock market crash. The impact was seen from the duration of full extent of the damages.
Facts about Black Tuesday 2: the Great Depression
Due to the Black Tuesday, the American people had to experience the 10-year Great Depression where people had to live in miserable condition. The stock market crash definitely affected the western industrialization.
Facts about Black Tuesday 3: the era of wealth
The era of wealth in United States occurred in 1920s. It was called as the Roaring Twenties. It was the decade which led into Black Tuesday.
Facts about Black Tuesday 4: the industrial sector
The industrial sector was promising for the people who lived in the rural areas. Therefore, many people decided to live in the cities to find better life. The agricultural sector in United States was abandoned by the people for they liked to be involved with industry.
Facts about Black Tuesday 5: the main cause of stock market crash
The main cause of the stock market crash in 1929 was blamed on the abandonment of the agriculture in the rural area. The American farmers were in despair at that time. Get facts about agricultural revolution here.
Facts about Black Tuesday 6: a mini crash
It was started by a mini crash on 25 March 1929 when the investors decided to sell stocks at rapid pace after the excessive speculation warned by the Federal Reverse. It made the foundation of the market shaky.
Facts about Black Tuesday 7: Charles E. Mitchell
Charles E. Mitchell was the banker who wanted to stop the slide of the market by providing $25 million credit from his National City Bank. However, his act was not successful to save the stock market. Get facts about banks here.
Facts about Black Tuesday 8: the decline of the American economy
The American economy could not be saved after the declined sales on the automobile, construction and steel production.
Facts about Black Tuesday 9: the easy credit
The easy credit given to the people was stuck. Thus, the people ended up having high debts.
Facts about Black Tuesday 10: Black Thursday
Black Tuesday occurred on 24 October. It was the time when the stock market lost 11 percent of the value.
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