Black Tuesday, October 22, 1929:Stock Market Crash
-Agricultural recession
-Overproduction lowers prices
-President Calvin Coolidge responds with "Farmers have always been poor"
-First sign of the coming depression
-Dow Jones Industrial average collapsed
-Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
-People commit suicide (threw themselves out of buildings)
-Businesses went bankrupt
-Banks closed due to no federal support
-Depression begins
-Overproduction lowers prices
-President Calvin Coolidge responds with "Farmers have always been poor"
-First sign of the coming depression
-Dow Jones Industrial average collapsed
-Continued selloff took place until 1932 when the DJIA was 89% of its 1929 peak
-People commit suicide (threw themselves out of buildings)
-Businesses went bankrupt
-Banks closed due to no federal support
-Depression begins