Stock market crash of 1929

Wall Street was in a heavy panic before the New York Stock Exchange was even open.(Morris 7)

Stock holders saw the dramatic decrease in stock values began to sell. This lowered the stocks even more and created a snowball effect. As more stock holders sold their stocks to save what money that had, the stocks values dropped which caused more customers to sell. On a normal day at the New York Stock Exchange around 750 to 800 members were on the floor. On October 24, 1929 there were over 1100 members on the floor as the stock market opened. Extra telephone staff were required due to the increase in sell orders . After a long day of chaos the Dow Jones closed at 299. A loss of 82 points from its last peak. That day a total of 16,410,030 shares of stock was sold. Over a few hours, prices fell so far as to wipe out all the gains that were made up in the last year. The economy was not about to get better yet for the United Stated. The stock market continued to fall and on July, 1932 the Dow Jones dropped to it's lowest point, 40.56. A drop of 89. This is why the stock market crash that started in 1929 was the worst ever in history. 30 billion disappe


 
 
 
 
 
 



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