The 1929 Stock Market Crash That Caused the Great Depression
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Nearly 13 million shares traded on Black Thursday, October 24, 1929, marking the start of the worst stock market crash in U.S. history.
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The crash began the Great Depression and was caused by overvalued stocks, declining production, rising unemployment, low wages, increased debt, struggling agriculture, and excessive bank loans.
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After Black Thursday's 13 million shares traded, bankers tried stabilizing the market by buying stocks, but prices continued falling.
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On October 29, over 16 million shares were traded as prices collapsed, resulting in billions lost and financial devastation for investors.
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The video provides more details on the causes and impact of the catastrophic 1929 stock market crash.