In this paper I am going to discuss the 1929 stock market crash.First I will give a brief summary of the crash and then I will compare it to the stock market today.I will also give examples of how people today are more cautious with their money and what was learned from the Great Crash of 1929. On October 24, 1929, Black Thursday, the stock market took a sickening plunge and wiped out many private investors.
The following Monday, the market fell again and many businesses were bankrupted.People felt things couldn’t get worse, but they did.The next day, October 29, black Tuesday, the market went into a terrifying free fall as stocks could find no buyers at any price.
The economy was devastated and would not recover for a full This was the time of the great crash, when securities on the nation’s stock exchanges lost more then a third of their value that haunted the memories of an entire generation.The dreams of hundreds of thousands American investors vanished in the smashup along with their hard-earned savings, when the country was battered by the severe psychological trauma whose effects were still plainly visible more than a decade later.In 1934 Roosevelt established a new federal agency the Securities and Exchange Commission, to oversee the stock market, which we still use today.Roosevelt also established the New Deal whose goal was to attack the great depression through recovery for the economy, relief for the needy, and reforms to ward off future depressions.
Through it never brought full recovery, the New Deal did improve economic conditions, provided relief to thousands of Americans Once again today’s stock market is in turmoil.Friday, the NASDAQ composite index fell to its lowest level since November 1998, capping a seven-week losing streak. The Dow Jones industrial average had its worst …