The First Measured Century: Timeline: Events - Stock Market Crash

The stock market crash on October 29, set in motion a series of events that led to the Great Depression, but in fact, the American economy and global economy had been in turmoil six months prior to Black Tuesday, and a variety of factors before and after that fateful date in October caused and exacerbated the Great Depression. This uneven distribution of wealth was mirrored in the unequal distribution of riches between industry and agriculture.

Causes of The Great Depression | Great Depression Facts Effects

Global Crisis And The Great Depression While America prospered during the s, most of Europe, still reeling from the devastation of World War I, fell into economic decline. While the great rise in the stock market from points in early to points in September was fueled by optimism and false hope, the plunge was flamed by stark fear.

Stock Market Crash Of The Great Depression On September 3,the Dow Jones was at a high of points, and on October 29,it had fallen to 41 stock market prior to great depression after a week of panic selling.

Bank Failures And The Great Depression Once the foreign exchange rates indian banks market crashed, fearful that banks would fail, millions of Americans began to withdraw their money.

Virtually overnight, they put thousands of banks in peril. The more money Americans withdrew, the more banks failed, and the more banks failed, the more money Americans withdrew.

Lack Of Available Credit During The Great Depression With massive draws on funds during the Great Depression, banks had no money to lend, and this lack of available credit led to a further worsening of economic conditions. People Stopped Spending Money During The Great Depression When the stock market crashed, and the banks failed, and unemployment levels reached higher and higher points, people understandably stopped spending money, which also deepened the economic crisis as demand for products and services ground to a halt.

Stock Market Crash Date, Causes

Dust Bowl During The Great Depression A drought that lasted from toknown as the Dust Bowl, aggravated the problems of the Great Depression. More than a million acres of farmland were rendered useless because of severe drought and years of overfarming, and hundreds of thousands of farmers joined the ranks of the unemployed.

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