1. Stock Market Collapse
The stock market collapsed "in a frenzy of selling in which a record 16 million shares were dumped .over the coming months investors lost millions and unemployment skyrocketed .seven hundred banks closed in 1929 and eighty-five thousand businesses went bankrupt between 1929-1932." 1 The depression lasted for about a decade. ... Stock market speculation went on throughout the 1920s ending on October 21, 1929 when the stock market crash occurred. Prominent businessmen as well as ordinary citizens borrowed money to purchase stock "on margin" with the intention of paying back the loan from the p...
- Word Count: 1658
- Approx Pages: 7
- Grade Level: Undergraduate