The Wall Street Crash Detailed Timeline
Timeline of Events
Saturday, 19th October 1929 - 3,488,100 shares were bought and sold and the prices began falling due to this dramatic heavy trading which had occurred due to the sudden lack of confidence in the market
Sunday 20th October 1929- The market was closed as it always is on a Sunday with the major newspapers commenting on the previous day many people started to panic.
Monday, 21 October 1929- 6,091,871 Shares changed hands with the prices of the shares falling but then suprisingly went up again as there were still people who did want to buy shares. This followed on Tuesday when prices went up slightly again due to a small demand which was being produced for the shares.
Wednesday, 23rd October 1929 - Even though the prices did go up over the previous two days there was still heavy selling, especially in companies which specialised in car accessory companies. In the last hour of trading alone the over 2.5 million shares being sold at dramatically falling prices. Many speculators had done something called, 'buying on the margin' this was where people borrowed money in order to speculate. The banks soon told them to put up…