What happened on October 29th ,1929?
In September the Stock Market had some unusual up & down movements
On October 24, the market took a plunge . . .the worst was yet to come
On October 29, now known as Black Tuesday, the bottom fell out
Shareholders frantically tried to sell shares before prices plunged further
People who bought stocks on credit were stuck with huge debt as prices plummeted
Dow Jones Industrial Average
It is an index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market.
Speculation-investment in stocks, property, or other ventures in the hope of gain but with the
risk of loss.
buying on margin-Purchasing an asset by making a down payment (called the margin) and financing the balance amount through a loan by using the asset as the collateral (such as in a mortgage loan)
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