Black Thursday Thursday, October 24, 1929, has the dubious honor of being called Black Thursday because it was on this day that the New York Stock Exchange crashed. This event heralded the end of the "Roaring Twenties". In the 1920’s, spirits were high in the United States and around the world. The rapid increase in industrialization was fueling growth in the economy. And technology improvements led the chief economists to believe that the uprise would continue. During this "boom" period, stock prices began to rise as wages increased along with consumer spending. As people began speculating on the rising stock prices and buying margin, billions of dollars were invested in the stock market. The large amount of unsecured consumer debt created by this speculation left the stock market essentially off-balance. Many investors got caught up in the race to make a ki....

Number Of Pages: 2

Number Of Words: 382

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