stock market crash of 1929

English - English

Definition of stock market crash of 1929 in English English dictionary

Economic event in the U.S. that precipitated the Great Depression. The U.S. stock market expanded rapidly in the late 1920s and reached a peak in August 1929, when prices began to decline while speculation increased. On October 18 the stock market began to fall precipitously. On the first day of real panic, October 24, known as "Black Thursday," a record 12,894,650 shares were traded. Banks and investment companies bought large blocks of stock to stem the panic, but on October 29, "Black Tuesday," 16 million shares were traded and prices collapsed. The crash began a 10-year economic slump that affected all the Western industrialized countries

Related Terms

stock market crash

A sudden dramatic decline of stock prices across a significant cross-section of a stock market

stock market crash

collapse of the stock market, falling of the stock market

Hyphenation

stock mar·ket crash of 1929