Wall Street Crash

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  • Created by: Jasmin
  • Created on: 04-05-13 15:22
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  • Wall Street Crash
    • Herbert Hoover president
    • People buying 'on the margin' buy now, borrow rest and pay later
    • SAT 19 Oct 1929 - shares brought/sold. Heavy trading as prices began falling
      • SUN 20 Oct - market closed
        • MON 21 Oct - Prices fell but then went up again as there were still people who wanted to buy shares
          • TUES 22 Oct - Prices rose slightly
            • WED 23 Oct - people sold shares rapidly
              • 'Black' THURS 24 - prices fell so fast people started to panic
                • Loss of confidence
                  • Falling prices
                    • Loses by brokers and private investors
                      • Pressure on banks
                        • Bankrupcy of larger corporations, closure of banks
                          • Falling prices
                            • Loses by brokers and private investors
                              • Pressure on banks
                                • Bankrupcy of larger corporations, closure of banks
                    • FRI 25 Oct - top bankers met and decided to support market. Prices steadied and rose
                      • MON 28 Oct - Heavy selling started again
                        • TUES 29 Oct - buyers couldnt be found and panic set in. Shares lost their value and the wealthy as well as small shareholders were hit badly
                          • People rushed to withdraw savings from banks - banks go bust
                            • MARKET CRASHED

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