Black Thursday marks start of stock market crash
Written by Black Hot Fire Network on October 30, 2023
On this day in 1929, nearly 13 million shares of stock were traded as Black Thursday hit Wall Street. The day is remembered as the start of the worst stock market crash in U.S. history and the beginning of the Great Depression.The stock market experienced rapid expansion in the 1920s, but by Aug. 1929, production had declined and unemployment had risen, leaving stocks in great excess of their actual value.Other causes of the market’s collapse were low wages, an increase in debt, a struggling agricultural sector and an excess of bank loans that couldn’t . . .
