Black Tuesday
- Dow Jones Industrial average collapsed
- Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
- People threw themselves out of buildings
- Businesses and people went bankrupt
- Banks close
- Depression begins
Buying on Margin
Essentially borrowing money to buy stock. A term is given (Ex. 10%), if you don't make more than that term you lose money.
Agricultural Recession
Farmers became very poor because of overproduction and lower prices had to be made. Then the drought came. This was the first sign of the coming Depression. Europe was affected by this even before America.
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