3.2 THE ORIGINS OF THE FINANCIAL CRISIS AND THE "BLACK THURSDAY", 24TH OCTOBER 1929:
On October 24, 1929, later to be known as Black Thursday, the stock market began its downhill drop. After the first hour, the prices had gone down at an amazing speed. Some people thought that after that day, the prices would rise again just as it had done before. But it didn’t. Prices kept dropping, and on October 29, 1929, Black Tuesday, more than 16 million shares were sold, but by the end of the day, most stocks ended below their previous value, and some stocks became totally worthless. Because of that, some people became homeless and penniless, all because of the Stock Market Crash.
The stock market boom changed the way investors viewed the stock market. No longer was the stock market for long-term investment. Rather, in 1928, the stock market had become a place where everyday people truly believed that they could become rich.
On Black Thursday, 24.10.1929, the Dow Jones Industrial Average (DJIA)© Index lost 2.09% accompanied by a record trading volume of 12.90 Mio. shares at the New York Stock Exchange (NYSE)©.
Photos from:
Information from:
No hay comentarios:
Publicar un comentario