Wall Street Crash Of 1929

                

       

   The Wall Street Crash of 1929, also known as the Great Crash, the Crash of 29, or Black     Tuesday, was a major American stock market crash that occurred in the autumn of 1929.       It started in September and ended in mid-November, when share prices on the New York     Stock Exchange (NYSE) collapsed.It was the most devastating stock market crash in the    of the united states when taking into consideration the full extent and duration of its     aftereffects.The Great Crash is mostly associated with October 24, 1929, called Black  Tuesday, the day of the largest sell-off of shares in U.S. history and October 29, 1929, called Black Tuesday, when investors traded some 16 million shares on the New York Stock Exchange in a single day. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the Great Depression.

There is a constant debate among economists and historians as to what role the crash played in subsequent economic, social, and political events. The Economist argued in a 1998 article that the Depression did not start with the stock market crash, nor was it clear at the time of the crash that a depression was starting. They asked, "Can a very serious Stock Exchange collapse produce a serious setback to industry when industrial production is for the most part in a healthy and balanced condition?" They argued that there must be some setback, but there was not yet sufficient evidence to prove that it would be long or would necessarily produce a general industrial depression.

However, The Economist also cautioned that some bank failures were also to be expected and some banks may not have had any reserves left for financing commercial and industrial enterprises. It concluded that the position of the banks was the key to the situation, but what was going to happen could not have been foreseen.