Question
Here is the question : THE GREAT DEPRESSION WAS PRECEDED BY WHAT 1929 EVENT?
Option
Here is the option for the question :
- Bay of Pigs
- Stock market crash
- Dust Bowl
- World War I
The Answer:
And, the answer for the the question is :
Explanation:
On October 29, 1929, the U.S. stock market saw its worst day of trading in history, earning it the nickname “Black Tuesday.” On that day, approximately 16 million shares were traded on the New York Stock Exchange, resulting in losses of several billion dollars. Following the collapse of London’s markets in September, the U.S. saw its own “Black Thursday” on October 24th, also known as “Flash Crash Day.”
The Great Depression was one of the most significant economic and social crises in modern history, and it was preceded by a major event in 1929: the stock market crash. The crash of the stock market, which occurred on October 29, 1929, is often seen as the starting point of the Great Depression, which lasted from 1929 until the late 1930s.
The stock market crash was a result of a series of factors, including a speculative boom in the stock market, excessive borrowing and lending, and a lack of government regulation and oversight. In the years leading up to the crash, the stock market had experienced a period of rapid growth, fueled by a wave of optimism and speculation among investors. Many people believed that the stock market was a surefire way to get rich quick, and they invested heavily in the market, often using borrowed money to do so.
However, by the fall of 1929, the stock market had become overvalued and unstable, and investors began to panic. On October 24, 1929, known as “Black Thursday,” the stock market experienced a sudden and dramatic decline, with millions of shares being sold off in a matter of hours. This sparked a wave of panic selling, and by the end of the day, the stock market had lost billions of dollars in value.
The stock market crash had far-reaching consequences for the American economy and society. It led to a wave of bank failures and business closures, as well as high levels of unemployment and poverty. Many people lost their life savings and were forced to rely on government assistance or charity to survive. The crash also had global implications, as many countries were dependent on American trade and investment.
In response to the Great Depression, the American government implemented a series of policies and programs designed to stimulate the economy and provide relief to those who were suffering. These included the New Deal, a series of programs and initiatives launched by President Franklin D. Roosevelt, as well as increased government regulation of the financial sector and the creation of social welfare programs like Social Security.
the stock market crash of 1929 was a major event that preceded the Great Depression, one of the most significant economic and social crises in modern history. The crash was a result of a combination of factors, including a speculative boom in the stock market and a lack of government regulation. The crash had far-reaching consequences for the American economy and society, and it led to a wave of poverty and unemployment. However, it also led to important changes in government policy and regulation, and it serves as a cautionary tale about the dangers of unchecked speculation and greed.