What was the Wall Street Crash of 1929?
Q: What was the Wall Street Crash of 1929?
A: The Wall Street Crash of 1929 was the greatest stock market crash in the history of the United States. It happened in the New York Stock Exchange on Tuesday October 28, 1929, now known as Black Tuesday.
Q: What were some of the consequences of this crash?
A: Bank failures followed, resulting in businesses closing and causing worldwide panic which started the Great Depression. Stock prices did not reach their previous level until late 1954. The crash also signaled the beginning of a 10-year Great Depression that affected all Western industrialized countries. Countries imposed high tariffs and otherwise restricted imports while international trade declined significantly. Soup kitchens became a place to go for food for many people who had lost their homes due to poverty and suffering during this time period.
Q: How long did it take for stock prices to recover from this crash?
A: It took until late 1954 for stock prices to reach their pre-crash levels again after the Wall Street Crash of 1929.
Q: Who was blamed for causing this crisis?
A: People who lost their homes lived in what were called Hoovervilles, blaming President Herbert Hoover for causing this crisis or depression.
Q: When did World War II begin and how did it end The Great Depression?
A: World War II began at the end of 1941 when American mobilization started and ended dramatically with its start on September 3rd 1939 when WWII began, thus ending The Great Depression.
Q: How did The Great Depression spread around Europe and other parts of world?
A:The Great Depression spread rapidly from America to Europe and other parts of world as a result of economic connections between US and European economies after WWI following The Wall Street Crash on October 29th 1929 which triggered it all off
