What is Black Tuesday | The 1929 Stock Market Crash | The Great Depression
What is Black Tuesday | The 1929 Stock Market Crash | The Great Depression
In this video, you will know about Black Tuesday.
Black Tuesday refers to a precipitous drop in the value of the Dow Jones Industrial Average (DJIA) on Oct 29, 1929.
The DJIA fell 12%, one of the largest one-day drops in stock market history. More than 16 million shares were traded in the panic sell-off, which effectively ended the Roaring Twenties and led the global economy into the Great Depression. It lasted until the beginning of World War II.
Causes of Black Tuesday included too much debt used to buy stocks, global protectionist policies, and slowing economic growth.
Black Tuesday had far-reaching consequences on America's economic system and trade policy.
It was only after President Franklin Roosevelt was elected that the economy showed signs of taking a turn towards the better.
So that's all about Black Tuesday.
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