The Great Depression Black Thursday & Black Tuesday.

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Presentation transcript:

The Great Depression Black Thursday & Black Tuesday

Black Thursday People believed the market could go nowhere but up until… Thursday, October 24th – a day that will live in infamy as “Black Thursday.”

Black Thursday Black Thursday was the first sign of the end of a great bull market. 12.9 million shares changed hands on Black Thursday (a new record – 4 million shares was considered a busy day back then).

Black Thursday The ticker tape machine fell behind by an hour and a half Investors were madly scrambling to sell their investments They didn’t even know the current prices.

Black Thursday Panic set in. People gathered outside the exchanges and brokerages, Police were dispatched to insure peace. Rumors were flying. Eleven well-known speculators had already killed themselves The NYSE closed the visitor’s gallery on the wild scenes below.

Friday & Saturday Friday and Saturday morning sessions held steady Everyone became optimistic with the market’s ability to recover.

Black Monday Black Monday was a terrible day in the market. Speculators began to realize that no one could save the market. Speculators could only hope that the damage wouldn’t be too bad. Black Monday was the 2nd worst day in U.S. stock market history.

Black Tuesday – October 29th, 1929 Black Tuesday is notorious for being the worst day in the U.S. stock market On Black Tuesday, a new record of 16.4 million shares were traded The ticker tape fell behind by two and a half hours!

By the end of November, investors had lost $100 billion in assets in what was later called "The Great Stock Market Crash."

In just two months… September and October, the stock market had lost 40 percent of its value. Black Tuesday usually marks the point where the Roaring 20’s ended and the Great Depression started