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The Wall Street Crash
Wall Street is the major financial centre
of New York, where the stock market is.
The collapse of the stock market in
1929 was the trigger for the worldwide
Economic Depression of the 1930s.…read more

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Causes of the Crash:
One factor was speculation.
Speculation was a form of gambling on the stock
People bought shares and then sold them again
when the price had gone up.
It relied on confidence that prices would keep
going up, so you could make a profit.
Many ordinary people got involved as they could
borrow money to buy the shares and then make a
profit, so as more people got involved the price
increased even more.…read more

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Causes of the Crash:
When the prices of shares continued to
increase, people lost confidence that they
would be able to sell their shares.
Everybody panicked and tried to sell their
shares at once, so there was no more demand
for them and the prices plummeted.
This led to a lot of people losing their money.
Black Thursday (24/10/1929) was the time
when most people realised this ­ 13 million
shares were sold. On 28th and 29th October the
prices continued to plummet.…read more

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Causes of the Crash:
The boom was partly caused by increased sale
of new technologies e.g. electrical appliances.
However, because of the huge gap between rich
and poor there was no more demand for these
goods ­ rich people already had them and poor
people couldn't afford them.
By 1929 factories had produced more than they
could sell ­ they hadn't predicted that demand
would decrease.…read more

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Causes of the Crash: Lack of
Export Market
In the past, if American factories had
overproduced they could have exported surplus
goods, so not lost so much money.
However, since the USA introduced import tariffs
on foreign goods earlier in the 1920s, European
countries had done the same in retaliation.
Also, many European countries were
experiencing financial difficulties so may not
have been able to afford the goods even without
the tariffs.…read more

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