What happened on Black Thursday and Black Tuesday?
The Dow Jones Industrial Average closed at 230.07 on Black Tuesday. From Black Thursday to Black Tuesday, stocks lost more than $26 billion in value and over 30 million shares traded. After that dismal week, prices continued to fall, wiping out an estimated $30 billion in stock value by mid-November 1929.Click to see full answer….
The Dow Jones Industrial Average closed at 230.07 on Black Tuesday. From Black Thursday to Black Tuesday, stocks lost more than $26 billion in value and over 30 million shares traded. After that dismal week, prices continued to fall, wiping out an estimated $30 billion in stock value by mid-November 1929.Click to see full answer. Similarly, it is asked, what happened on Black Thursday?Black Thursday refers to October 24, 1929, when panicked sellers traded nearly 13 million shares on the New York Stock Exchange (more than three times the normal volume at the time), and investors suffered $5 billion in losses.Also Know, how does Black Tuesday affect us today? This affects us today because there have been multiple crashes since Black Tuesday which impact the world economy and just the world around us because prices for everything will go up and things will get more expensive and the unemployment rate will go up so it will be harder to make a living. Also know, what did Black Tuesday cause? Causes. Part of the panic that caused Black Tuesday resulted from how investors played the stock market in the 1920s. They didn’t have instant access to information via the internet. Stock prices were printed by a ticker tape machine onto a strip of paper.Why did the stock market crash on Black Thursday? 1929 Stock Market Crash Among the other causes of the eventual market collapse were low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated. Panic set in, and on October 24, Black Thursday, a record 12,894,650 shares were traded.
