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The Stock Market Crash of 1929, 'Black Tuesday'

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  1. Basic conditions
  2. Market structure
    1. Market
    2. The strategies
    3. Government Policy
  3. Behavior
  4. Performance and policy
  5. Conclusion

The Wall Street in New York is the permanent home of the New York Stock Exchange (NYSE). The financial district is also home to several other stock exchanges like NASDAQ, AMEX, etc. This famous street in Manhattan was the scene of the worst financial crash in history, popularly known as the Wall Street Crash or the Great Crash of 1929. This was the most devastating stock market crash that the world had ever seen, fuelled by the speculative boom that the US had seen in the 1920s.

This boom had led several Americans to invest heavily in the stock market with people borrowing heavily to buy shares. Even with $8.5 billion out on loans and despite warnings that the stock market could not withstand high prices, people kept buying more shares thinking the prices would climb even higher. This led to the formation of an economic bubble, which burst and the NYSE plummeted as a consequence of this.

The stock market crashed on 29 October, 1929, a Tuesday, and hence, this day was referred to as the 'Black Tuesday'.

Tags: Wall Street Crash, Black Tuesday, Great Crash of 1929, Great Depression

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