1. October 29th, 1929: Black Tuesday

2. The Beginning Of The End
Thursday, October 24th, 1929
million shares were traded; then, 4 million
was considered a busy day
- First sign of the decline of the “bull” market
- Thomas Lamont stepped in to calm investors
saying the large number of trades was
encouraged by a “technical error”

3. The Beginning Of The End
Monday, October 28th, 1929
- Around 9.25 million shares were traded
- The ticker tape ran so far behind people
began desperately selling without even
knowing the share value

4. Tuesday, October 29th, 1929 Black Tuesday
- A record 16.4 million shares were traded
on Black Tuesday
- Bankers began dumping their holdings while
at the same time assuring the public that
all was well with the market
- The market lost 13% of its value in one day

7. The Final Results - By the end of November, investors had lost
over $100 billion dollars
- In just over a month the market had lost
over 40% of its value
- The Roaring 20s quickly became a memory
as the nation’s economy collapsed

8. The Final Results - Stock market investors were not the only
ones hurt by the crash
- Banks had lent their cash reserves to brokers
- Brokers lost that money when their customers
could not respond to margin calls and failed to
repay their loans

9. The Final Results - Savings deposits were not federally insured
- People who had kept their money in banks
found their savings had vanished
- Thus, the market crash caught millions of
innocent bystanders in the financial crunch