More about Great Depression
Many Americans were so eager to get in the stock market that they bought on margins
This meant that a buyer would pay 10-20% up front, and borrow the rest from a broker.
Banks invested their costumes' money in the stock market without their knowledge
Steel, house, and car production slowed and several small crashes occurred.
October 24 came to be know as Black Tuesday
Prices dropped drastically, margins calls were issued, and panicked investors sold $12.9 millions in stock
Black Tuesday occurs (October 29) the stock market fell
16.9 million shares were sold in an attempt to get out of the market quickly
This meant that a buyer would pay 10-20% up front, and borrow the rest from a broker.
Banks invested their costumes' money in the stock market without their knowledge
Steel, house, and car production slowed and several small crashes occurred.
October 24 came to be know as Black Tuesday
Prices dropped drastically, margins calls were issued, and panicked investors sold $12.9 millions in stock
Black Tuesday occurs (October 29) the stock market fell
16.9 million shares were sold in an attempt to get out of the market quickly