Stock market crash

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7 Terms

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Booming Economy

wages up to 40%

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Economic Danger Signs

overproduction, business controlling 50% of the economy, Credit debt and installment plan debt and no gov watching over the stock market or banks

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Buying stocks on margin

borrowing money from stock broker to buy stocks

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Warning signs

farm prices fell after ww1, unable to pay back loans, 6,00 banks closed in teh west

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Black tuesday

Oct 24, 1929 where stocks fell, brokers panicked and no one could pay money

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Black Tuesday (oct 29, 1929)

value of market falls and over $30bil lost

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Effects of the crash

many lost life savings, people use loans, no one has money to pay anything