The Stock Market Crash of 1929 – Part 1: To The Moon!
Conflicted: A History Podcast
The Chaos of Black Tuesday
On Black Tuesday, October 29th, 1929, the New York Stock Exchange descended into chaos. The trading floor resembled a mosh pit, with people screaming, crying, and stockbrokers' suits being torn apart by frantic investors. The floor was covered in a thick layer of paper, making it difficult to walk through. Outside, 10,000 people crowded along Wall Street, trying to understand the situation. Stock prices were dropping rapidly, with traders likening it to cans falling off a shelf. Within 30 minutes, billions of dollars evaporated, wiping out life savings, pensions, and nest eggs.
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