Black Tuesday Tamil Tuesday The day the stock market plummeted like never before.
Black Tuesday marked the beginning of the Great Depression that lasted 10 years, affecting many industrialized and non-industrialized countries in many parts of the world. There were signs in the late 1920s when real estate values began to decline and stock markets continued to weaken until on October 29, 1929, the US stock market shook. When people rushed to sell their shares and exit the market. This is a sale caused by panic or panic selling until 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.
Prior to Black Tuesday, it was said to be a prosperous time for the US stock market. In the mid to late 1920s, the stock market in the United States expanded rapidly. and continued for the first six months after President Herbert Hoover takes office In January 1929, during that time, stock prices rose to record highs. and is called “Hoover bull market” It is from this situation that attracts people to the stock market. since the bank magnate industrial owner Business owners and services to the general public
Everyone expects the market to continue growing in the future. This caused billions of dollars to pour into the Wall Street market. with approximately 300 million shares with gross margin This pushed the Dow Jones Industrial Average to a peak of 381 in September 1929. The market soon declined in value, but most people still didn’t notice the anomaly.
Speculation continues to run. Until October 24, 1929, known as “Black Thursday, Black Thursday” was the day when the real panic started. When people start to recognize the signs of abnormalities On that day, 12.9 million shares were traded. Until October 29, 1929, better known as Black Tuesday, the stock market plunged 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 day the US stock market. 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 47 percent drop, gross domestic product (GDP) down 30 percent, and the unemployment rate more than 20 percent.
In addition, 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 start of World War 2, the demand for labor and productivity at that time also increased. As a result, the economic downturn ended.
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refer
https://www.investopedia.com/terms/b/blacktuesday.asp
https://www.britannica.com/event/stock-market-crash-of-1929
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