Black Tuesday
Because of an Agricultural Recession, people Buying on the Margin, and an overall failure in the American Economy, made the USA slip rapidly into a Recession. This was caused by the famous day known as Black Tuesday.
Black Tuesday was the day that the depression first started. People did a mass sell off in hopes to not loose all there money. But this fear just made america more poor. People lost everything throwing themselfs out of windows.
Black Tuesday was the day that the depression first started. People did a mass sell off in hopes to not loose all there money. But this fear just made america more poor. People lost everything throwing themselfs out of windows.
- Down jones industrial average collapsed
- Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
- People lost everything and threw themselves out of buildings
- Businesses go bankrupt and 30% of America looses jobs
- People loose trust in banks and they are forced to close
- Depression begins