Many investors invested their money and any other money they had. As the prices continued to rise, some analysts began to warn that it can't last forever, but they were ignored. Finally, in October 1929, the buying craze began to stop, and was followed by an even wilder selling craze.
On Thursday, October 24, 1929, the bottom began to fall out. Stock prices began to fall and fall. Investors tried to sell their holdings. By the end of the day, the New York Stock Exchange had lost four billion dollars, and it took exchange clerks until five o'clock AM the next day to get everything organized. By the following Monday, the people finally realized what had happened AND THEY PANICKED! Thousands of people were left with no money. The worst part was that they were ordinary people. By the end of the year, stock values had dropped by billions of dollars.
The banks began to fail. And the Great Depression had begun.
Picture Gallery | Whose Fault Is It? | The New Deal | World Depression! |
Investing For Kids | The Math of the Stock Market | Timeline |
Mr. Roosevelt | Domino Effect | Great Depression Quiz | Stock Market Quiz | Bibliography
| About Us! | Email us! | ThinkQuest