Everything hit rock bottom, including the stock market, banks and the most saddening f them all was peoples moral. The Depression hit America hard and fast, it lasted about ten years from 1929 to 1940.
Beginning this tragic era of time was the famous stock market crash also known as black Tuesday. In the 1920's stock prices jumped a tremendous amount, to highs never seen before. Many people such as investors believed that stocks were a for sure thing. So they started borrowing heavily which would enable them to invest more money into the stock market. That was all about to end, for in 1929 the bubble was popped and stocks started to go down very quickly. By 1933 the market had reached its lowest point ever, down a total f 80%. This hid the American economy hard; the strong demand for goods, such as major appliances went down, no more money to invest. The stock market had let many people down.
During the history f the stock market in the United States, there have been many days in which the market declined numerous points. This is referred to as a market crash. One is called "Black Thursday," which marked the beginning f the Great Depressions. ...Show more