Black Tuesday Tamil Tuesday The day the stock market collapsed like never before.
Black Tuesday marked the beginning of the Great Depression which lasted 10 years, affecting many industrialized countries and not in many parts of the world. There were signs in the late 1920s as real estate values began to decline and stock markets continued to weaken until the US stock market shook on October 29, 1929. When people rushed to sell their shares and get out of the market. This is a panic sale or panic sell to the US stock market. fell to the lowest point in history. During that time, the Dow Jones Industrial Average (DJIA) stock index was hit hard, dropping 12% in a single day.
Before Black Tuesday, it was said to be a prosperous time for the US stock market. Between the mid to late 1920s, the stock market in the United States expanded rapidly. and continued for the next six months. President Herbert Hoover takes office In January 1929, during that time, share prices soared to record highs. and it is called “Hoover Bull Market” It is from this situation that it attracts people into the stock market. since the bank mogul industrial owner Entrepreneurs and public services
Everyone expects the market to continue growing in the future. This caused billions of dollars to pour into the Wall Street market. with roughly 300 million shares with gross margin This pushed the Dow Jones Industrial Average to a peak of 381 in September 1929. The market soon lost value, but most people still haven’t noticed the anomaly.
Speculation continues to run. Until October 24, 1929, known as “Black Thursday, Black Thursday” was the day the real panic began. When people begin to recognize the signs of anomalies 12.9 million shares were traded that day. By October 29, 1929, better known as Black Tuesday, the stock market collapsed like never before. People are selling their shares to get out of the market as quickly as possible. As a result, that day became the US stock market day. fell to the lowest point in history.
This event resulted in a massive and long-lasting Great Depression. There was a slowdown in industrial production in the United States, with a decline of 47 percent, gross domestic product (GDP) down 30 percent and the unemployment rate of more than 20 percent.
Furthermore, the economic downturn has had a widespread impact on many countries. But there are differences in the level of violence. Until the early 1930s, with the onset of World War II, the demand for labor and productivity also increased at that time. As a result, the economic recession ended.
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refer
https://www.investopedia.com/terms/b/blacktuesday.asp
https://www.britannica.com/event/stock-market-crash-of-1929
Last update on: 8 October 2022
