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Wall Street during the
1929 crash.
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Who was the President in the 1929 Wall Street Crash?
Herbert Hoover was
the 31st US President who served in office from March 4, 1929 to March 4, 1933. One of the
most important events during his presidency was the 1929 Wall Street Crash
on October 29, 1929
which contributed to the period in US history known as
the Great Depression.
1929 Wall Street Crash Facts for kids: Fast Fact Sheet
Fast, fun facts and Frequently Asked Questions (FAQ's)
about the 1929 Wall Street Crash.
What was the 1929 Wall Street Crash? The
Wall Street Crash was the collapse of U.S.
Stock Market due to the panic-selling of massive
amounts of stocks and shares. Between
$10-$15 billion was lost in the Wall Street
Crash in just one day.
When was the Wall Street Crash?
The Wall Street Crash happened on October
29, 1929 (Black Tuesday)
What caused the Wall Street Crash?
The Wall Street Crash was caused by a
variety of different factors including the US
Economic Boom, over-confidence, consumerism,
overproduction, easy credit, the Stock Market boom and the 'Long Bull
Market'.
What were the Effects of the Wall Street Crash?
The impact and effects of the Wall Street
Crash resulted in the closure of banks,
bankruptcies, suicides, evictions, mass
unemployment and wage cuts that led to the
Great Depression. For comprehensive facts
and information refer to the
Causes and Effects of the Wall Street Crash
1929 Wall
Street
Crash Facts for kids
The following fact
sheet contains interesting facts and information on the
story of what happened in the 1929 Wall Street Crash for kids.
Facts
about the Wall Street Crash for kids - The Story of what happened
1929 Wall
Street Crash Fact 1: America was enjoying an economic
boom, a period of growth and prosperity. Industries and
businesses boomed and people began investing in the
stock market attracted by the potential of massive
profits.
1929 Wall
Street Crash Fact 2: Wall Street had prospered from the 'Long
Bull Market' in which stock prices rocketed from an
average of $50 per share in 1922 climbing to an enormous
$350 per share in 1929.
1929 Wall
Street Crash Fact
3:
The Long Bull Market saw more investors
wishing to buy stocks than were willing to sell, which
led to the continuing rise in share prices as investors
competed to obtain available equity. New investors,
eager to get a share in the market, bid
the prices of stock up.
1929 Wall
Street Crash Fact
4: Stock prices had began to rise
sharply in 1926 and 1927, but the high point for the 1929 market
prices was
August 1929.
1929 Wall
Street Crash Fact
5: American were 'Buying on Margin' to
acquire their stocks - which effectively meant buying
stocks with loaned money.
1929 Wall
Street Crash Fact
6: By 1929 between 3 to 4 million
Americans (about 10% of US households) had invested in the stock market.
1929 Wall
Street Crash Fact
7: On March 25, 1929 there was a mini-crash on Wall
Street. Banker Charles Mitchell managed to stop the market’s slide
on this occasion but the 'writing was on the wall'. Most ignored the
warning.
1929 Wall
Street Crash Fact
8: During 1929 steel production was declining,
construction was decreasing, automobile sales were down, and
consumers were building up high debts because of easy credit.
1929 Wall
Street Crash Fact
9: Despite the serious problems the stock market
continued its upward momentum, heedless of real economic indicators,
and stocks hit record levels month after month and the Dow Jones
index had more than doubled since its low point in March 1929.
1929 Wall
Street Crash Fact
10: The Bull Market
could only last as long as investors were putting new money
into it. By the summer of 1929 the Wall Street stock
market was running out of new investors.
Continued...
Facts
about the Wall Street Crash for kids - The Story of what happened
Facts about
the Causes of the Wall Street Crash for kids
The following fact
sheet continues with facts about Facts about the Causes of the
Wall Street Crash for kids.
Facts
about the Wall Street Crash for kids - The Story of what happened
1929 Wall
Street Crash Fact
11: On 5th September, 1929 investor
and business theorist Roger Babson made a speech at the
Annual Business Conference in Massachusetts predicting
that 'Sooner or later, a crash is coming, and it may be
terrific'.
1929 Wall
Street Crash Fact
12: By September 1929 professional
investors realized that the economy was dramatically decreasing and
were aware of the dangers of the 'Boom and Bust' cycle. They began to sell off their
stocks.
1929 Wall
Street Crash Fact
13: Share prices began to slowly fall and more investors,
worried about their ability to pay off their loans, also started to sell.
The downward spiral had begun and and stock
prices fell further.
1929 Wall
Street Crash Fact
14: On Monday, October 21, 1929 stock brokers began to
make large-scale 'margin calls' demanding immediate repayment of
loans from their clients. The Panic on Wall Street started to set in.
1929 Wall
Street Crash Fact
15:
The panic started to spread and within four days, on October 24, 1929
(Black Thursday), a record 12,894,650
shares were traded on the Wall Street Stock Market.
1929 Wall
Street Crash Fact
16: On Friday October 25, 1929 Leading bankers and
investors frantically attempted to stabilize the market by buying up
blocks of stock that resulted in a moderate rally.
1929 Wall
Street Crash Fact
17: On Monday, October 28, 1929 the stock market went into free fall
and losses as high as $5 billion were reported. The
contagion spread to the stock markets in Europe.
1929 Wall
Street Crash Fact
18: On Tuesday, October 29, 1929 (Black
Tuesday) stock prices completely collapsed.
Margin buyers were forced to sell and there was panic-selling of all
stocks.
1929 Wall
Street Crash Fact
19: A massive 16,410,030 shares were traded on the New York Stock Exchange in a single day.
Between $10-$15 billion was lost on Black Tuesday due to the
plummeting share prices. Millions of Americans lost their life
savings
1929 Wall
Street Crash Fact
20: Share prices continued to drop and by
mid-November a staggering $30 billion had been lost on the stock
market.
1929 Wall
Street Crash Fact
21: On November 23, 1929 the stock market
hit rock bottom and then at last began to stabilize. The
1929 Wall Street was finally over. It took 23 years for
the US market to recover.
Facts
about the Wall Street Crash for kids - The Story of what happened
Facts
about
Wall Street Crash for
kids
For visitors interested in the history of
finance in the 1920s refer to the following articles:
Wall Street Crash for kids - President Herbert Hoover Video
The article on the Wall Street Crash provides detailed facts and a summary of one of the important events during his presidential term in office. The following
Herbert Hoover video will
give you additional important facts and dates about the political events experienced by the 31st American President whose presidency spanned from March 4, 1929 to March 4, 1933.
Wall Street Crash
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Interesting Facts about Wall Street Crash for kids and schools
●
Summary of the Wall Street Crash in US history
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The Wall Street Crash, selling and buying stocks
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Herbert Hoover from March 4, 1929 to March 4, 1933
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Fast, fun facts about the Wall Street Crash and Margin Call
●
Foreign & Domestic
policies of President Herbert Hoover
● Herbert Hoover Presidency and
Wall Street Crash for schools,
homework, kids and children |
