The Great Depression

1
The Great Depression

• Black Thursday
• Black Tuesday

2
Black Thursday

• People believed the market could go nowhere but
  up until
• Thursday, October 24th a day that will live in
  infamy as Black Thursday.

3
Black Thursday

• Black Thursday was the first sign of the end of a
  great bull market.
• 12.9 million shares changed hands on Black
  Thursday
• (a new record 4 million shares was considered
  a busy day back then).

4
Black Thursday

• The ticker tape machine fell behind by an hour
  and a half
• Investors were madly scrambling to sell their
  investments
• They didnt even know the current prices.

5
Black Thursday

• Panic set in.
• People gathered outside the exchanges and
  brokerages,
• Police were dispatched to insure peace.
• Rumors were flying.
• Eleven well-known speculators had already killed
  themselves
• The NYSE closed the visitors gallery on the wild
  scenes below.

6
Friday Saturday

• Friday and Saturday morning sessions held steady
• Everyone became optimistic with the markets
  ability to recover.

7
Black Monday

• Black Monday was a terrible day in the market.
• Speculators began to realize that no one could
  save the market.
• Speculators could only hope that the damage
  wouldnt be too bad.
• Black Monday was the 2nd worst day in U.S. stock
  market history.

8
Black Tuesday October 29th, 1929

• Black Tuesday is notorious for being the worst
  day in the U.S. stock market
• On Black Tuesday, a new record of 16.4 million
  shares were traded
• The ticker tape fell behind by two and a half
  hours!

9
By the end of November, investors had lost 100
billion in assets in what was later called "The
Great Stock Market Crash."
10
In just two months September and October, the
stock market had lost 40 percent of its value.
Black Tuesday usually marks the point where
the Roaring 20s ended and the Great Depression
started