Black Tuesday: The Stock Market Crash Of 1929

Powerful Essays
Investigation October 29th, 1929, known as Black Tuesday, marks a monumental change in American history. Just prior, America had been partaking in a period of prosperity known as the Roaring Twenties. This period was a time of dramatic social, economic and political change. While the American economy experienced incredible expansion, it was also an era where America’s culture reshaped itself into a modern nation. After America’s economy spent ten years flourishing following World War 1, suddenly it all plummeted. Although the previous decade was fruitful, there were underlying problems occurring. What followed was that traumatic day; most consider it the beginning of America’s Great Depression. The Great Depression continued for an entire decade, not only in the United States, but also across the rest of the world. In America, The Depression was a devastating experience for the people, who faced unemployment, the loss of land as well as other properties, and – in extreme cases – homelessness and starvation. Obviously undergoing economic distress, the nation was also dealt damage politically and socially. The exact cause of the Great Depression is hard to pin down. However, most critics have narrowed it down to a handful of causes (Kelly). A major cause was the Stock Market Crash of 1929. While the crash was not the sole cause of the Great Depression, it did act to accelerate the global economic collapse, causing nearly half of America’s banks to fail
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