Black Tuesday, October, 22, 1929: The Stock Market Crash
- Dow Jones Industrial average collapsed
- Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
- People threw themselves out of buildings
- Businesses go bankrupt
- Banks close
- Depression begins
USA 1920s Extra Points
- High Tariffs - Success for US businesses, part of isolationism policy
- Laissez faire Capitalism - private ownership with little infringement from the Government (Hoover's idea of Free Enterprise)
- Overproduction of a major cause for both agricultural recession and stock market crash
- Government restriction on immigration, particularly Asians during this period