Monday, 29 October 2012

On This Day: 29 October 1929 - "Black Tuesday," Stock Market crashes triggers "Great Depression

The Wall Street Crash of 1929, also known as the Great Crash and the Stock Market Crash of 1929, began in late October 1929 and was the most devastating stock market crash in the history of the United States when taking into consideration the full extent and duration of its fallout. The crash signaled the beginning of the 10-year Great Depression that affected all Western industrialized countries and did not end in the United States until the onset of American mobilization for World War II at the end of 1941.

Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even.

The photograph above was taken in March 1936 and is looking down Pike Street toward the Manhattan Bridge, street half in shadow, rubble in gutters, some traffic.

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Image courtesy of the New York Public Library under the Creative Commons Agreement on Flickr

Research courtesy of Wikipedia


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