Crash!
On October 29, 1929, the stock market went down in history. That day became known as Black Tuesday. Many people bought and sold stocks. Two out of every five dollars was money loaned from the bank to stock investors. The stock market peaked on September 3, 1929, and after every peak comes a fall. On Black Tuesday, there was chaos on the trading floors. The traders hollered and screamed. News reporter, Jonathan Leonard was there on the scene of the crash. He said, “This was real panic. It was what the banks had prevented on Thursday, had slowed on Monday. Now they were helpless.” Every Time a stock went down, a trader went down to the floor with it. It was pure chaos.
The Stock Market crash on Tuesday was one of the most devastating crashes in history. In total $25 million dollars were lost in the crash. The market began to recover in November 1929. Hopefully, in the future years our country does not have to suffer another depression.
Wall Street on October 29,1929.