Great Crash

Great Crash On 2 October 1929 the New York Stock Exchange price index fell by 49 points, followed b a drop of 43 points the next day. Stock prices continued to drop, until on 8 July 1932 the index stood at 41, 10.76% of its peak level at 381 in September 1929, All the symptoms of DEPRESSION were seen in their most aggravated state. On one day alone, 29 October 1929, 16,410,030 shares changed hands at throwaway prices, millions became unemployed, scores of factories shut down, over 5000 banks failed, and the US went through its worst ever economic disaster. As a result reformative Acts to control the stock market started being legislated from 1933 onwards.

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