stock market

• What was the stock exchange collapse?

  • July 1929=overproduction, Fordney mccumber tariff did not help and worsened, less demand, less production, unemployment
  • September 1929= investors start to worry, black Thursday
  • 24 October 1929= 13 million shares sold, bankers Holt panic by spending $250 million buying shares
  • 28 October 1929=9 million shares sold, prices Fell
  • 29 October 1929 = collapse, 16 million shares sold, shareholders lost $8000 million in a day, bankrupt, repossession