Class Notes

On Oct 24, 1929, there was an unprecedented wave of sell orders on the NYSE.  Around noon prominent investors, like JP Morgan and others, pooled their money to buy stocks to stabilize the drop. Stocks did stabilize, but public confidence was shaken.  Prices held on Friday but slipped some the next day.  It was Tuesday, Black Tuesday, that brought the worst drop in history and ushered in the worst depression we have ever seen.  The Crash was not the cause of the Great Depression, but a symptom of issues that had been building during the 1920s.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s