Stock Market Crash of 1929
The Stock Market Crash of 1929 was a major financial disaster that marked the beginning of the Great Depression. It occurred over several days in late October, with the most significant drops happening on October 24, known as Black Thursday, and October 29, known as Black Tuesday. Investors lost billions of dollars, leading to widespread panic and a loss of confidence in the economy.
The crash was fueled by rampant speculation and overvaluation of stocks, as well as economic weaknesses that had been building throughout the 1920s. The aftermath saw a dramatic rise in unemployment and a severe contraction of the economy, affecting millions of people and reshaping financial regulations in the years to come.