Dow – Short for Dow Jones Industrial AveragePivotal –Crucial importance in relation to the development or success of something elseMacroeconomists - (macroeconomist) an economist who specializes in macroeconomics.Dubbed – give an unofficial name to someone or somehingConsensus – General agreementDividends – Sum of money paid regualryFrenzy – a state or period of uncontrolled excitement or wild behaviorHoodwink –Tricking or deceivingLiquidate – Wind up the affairs of a company or film by ascertaining liabilities and apportioning assetsShanty – A small crudely built shack
Each picture shows the stock market & how people just put everything in the market expecting to get rich quick but instead it came back and took everything. Some seen it coming others didnt. Greed was one of the main factor on why many people lost millions, & putting most of their money in the fastest way to make money contributed.
This article discusses the stock market crash of 1929, including Black Thursday, Black Monday, as well as some of the events leading up to the crash.
Alejandro Vaca's insight:
It began with black Thursday when a record number of 12.9 million stocks were exchanged adding that the system for tracking prices couldn't keep up with this volume of trades. Ticker tapes were nearly 90 min. behind & at the end of the day the market had fell around 9%. Following this was Black Monday, since they had such a loss over the weekend people had more of a sense of security. Conditions went back to how they were with the high trade volume on this Monday, the market went down another 13%. The following day, Black Tuesday dealt the final blow. 16.4 million shares had been exchanged , tickers fell behind 3 hours & the market went down another 12%. Over the next month or so the market started to decline quickly & when july came the market had reached rock bottom as the Dow hit 41 from the previous high of 381 in 1929.
Here are news paper articles & cartoons depicting the stock market. A man had gone missing after Black Thursday, one dropped dead, and another shot himself. A new bleak reality had arrived, a "depression" & the economy was not going to bounce back anytime soon.
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