Black monday

Black Tuesday hits Wall Street on October 29, 1929 as investors trade 16,410,030 shares on the New York Stock Exchange in a single day. Billions of dollars were lost, wiping out thousands of investors, and stock tickers ran hours behind because the machinery could not handle the tremendous volume of trading.

In the aftermath of Black Tuesday, America and the rest of the industrialized world spiraled downward into the Great Depression.

During the 1920s, the U.S. stock market underwent rapid expansion, reaching its peak in August 1929, a period of wild speculation.

By then, production had already declined and unemployment had risen, leaving stocks in great excess of their real value. Among the other causes of the eventual market collapse were low wages, the proliferation of debt, a weak agriculture and an excess of large bank loans that could not be liquidated.

Stock prices began to decline in September and early October 1929, and on October 18 the fall began.

Panic set in, and on October 24—Black Thursday—a re

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