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Sagot :
Just over two months the market had established new record high price levels
What happened as a result of the stock market crash of 1929?
Stock market crash of 1929, also known as the Great Crash, was a severe decrease in the value of American stocks in 1929 that aided in bringing about the Great Depression of the 1930s. The Great Depression, which lasted roughly ten years and had an impact on both industrialized and non industrialized nations worldwide.
Briefing:
The worst economic crisis in history, which impacted the financial system, affected stock prices, and quickly expanded, was brought on by the 1929 crash of the New York Stock Exchange. The 1920s saw a boom in the US economy as a result of unexpected sales increases, which fueled overproduction and unchecked credit expansion. The value of NYSE-traded assets rose to such heights as a result of this enthusiasm that in less than two months the historic black Thursday, the day the NY stock traded, broke out. Stock and bond values crashed when there was no demand for the assets, causing a huge wave of distrust and setting off a domino effect in other economic areas. The crisis that eventually led to the Great Depression began at that time.
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