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Black Friday: The Stock Market Crash Of 1929

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Black Friday is the day after the Thanksgiving holiday in the United States. According to Investopedia, “black Friday” is so named because it is the biggest shopping day of the year. The term "black" is an accounting expression for the practice of recording profits in an accounting ledger in black ink; losses are recorded in red ink” (Investopedia). These are some of the most significant economic factors behind the stock market crash of 1929. In the 1920s, there was a rapid growth in bank credit and loans in the US. Encouraged by the strength of the economy, people felt the stock market was a one way bet. Some consumers borrowed to buy shares. It hadn’t happened before. It all occurred at The Wall Street Crash of 1929, also known as Black Tuesday the Great Crash, or the Stock Market Crash of 1929, began on October 24, 1929 ("Black Thursday"), and was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its aftereffects. …show more content…

It could have been avoided. People were hurt mostly because they were buying stock on margin (which means they were borrowing money they didn't have to purchase the stock), and they put in orders that caused things to happen without adequate oversight. The impact of stock market crash of 1929 was not the sole cause of the Great Depression, but it did act to accelerate the global economic collapse of which it was also a symptom (History.com). There were tragic events that happened because of the stock market crash.The stock market crash of 1929 d in a loss of around $14 billion of wealth.Need to cite this

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