While no consensus exists about its precise causes, the article will critique some arguments and support a preferred set of conclusions. This article examines the causes of the 1929 stock market crash.
#Stock market bubble series
The events of Black Thursday are normally defined to be the start of the stock market crash of 1929-1932, but the series of events leading to the crash started before that date. By the time the crash was completed in 1932, following an unprecedentedly large economic depression, stocks had lost nearly 90 percent of their value. By November 13, 1929, the market had fallen to 199. By all accounts, there was a selling panic. On this day the market fell 33 points - a drop of 9 percent - on trading that was approximately three times the normal daily volume for the first nine months of the year. At the end of the market day on Thursday, October 24, the market was at 299.5 - a 21 percent decline from the high. On September 3, 1929, the Dow Jones Industrial Average reached a record high of 381.2. These two dates have been dubbed “Black Thursday” and “Black Tuesday,” respectively. The 1929 stock market crash is conventionally said to have occurred on Thursday the 24 th and Tuesday the 29 th of October.
Harold Bierman, Jr., Cornell University Overview
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