Which of these contributed to the Crash of 1929 and the Great Depression? A) stock market speculation B) the effects of World War II C) success of the U.S. farm economy D) foreign boycotts of U.S. products
Answers
Option A i.e Stock market speculation is the correct answer.
The United States Stock market underwent rapid changes in 1920s and reached its peak in August 1929. Many investors had invested with the aim of large gains. But in October 19129 there was a fall of Stock market which opened 11% lower on 24 October 1929.Panic set in, and on October 24, Black Thursday, a record 12,894,650 shares were traded.This event on 24 October 1929 is known as stock Market Crush.The stock market continue to fall and thus lead to Great Depression.
Thus we see the Stock market speculation contributed to the Crash of 1929 and the Great Depression.
The correct answer for your question is option (A)-Stock Market Speculation.
The day October 31 of 1929 was the black day in American history because the induces the longest economic depression in the western world which can also be known as the Great Depression of 1929-1939.
On 29th October of 1929, NYSE lost billions of dollars and lost many of its investors as the investors traded some 16 million shares on the NYSE. This ultimately lead to the fall of NYSE.
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