The Wall Street Crash of 1929, or Black Tuesday on October 29, triggered a global economic depression in the early 1930s. Speculation, overvaluation of stocks due to margin trading, and easy credit were key factors. The uneven distribution of wealth and bank failures exacerbated the crisis. The crash had a ripple effect worldwide, leading to the Great Depression. Stock prices plummeted, causing widespread bankruptcies and unemployment. Governments, including the U.S. under President Roosevelt, implemented measures like the New Deal to address the economic turmoil. The Great Depression left a lasting impact on economic and social policies, shaping the modern welfare state.
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