Presentation on theme: "The Crash of 1929 The Stock Market Crumbles. “ Bull ” Market – like a “ bull ” charging ever upward in Sept., American stocks began to decrease in value."— Presentation transcript:
The Crash of 1929 The Stock Market Crumbles
“ Bull ” Market – like a “ bull ” charging ever upward in Sept., American stocks began to decrease in value Cdn. stocks did, too Investors start to lose confidence in the companies they’d invested in
“ Bull ” Market – like a “ bull ” charging ever upward wanted to sell stocks before the stock prices fell further Investors panicked and started unloading large quantities of stocks
Black Tues., Oct. 29 widely recognized as THE Crash NY (Wall Street), Toronto and Montreal stock exchanges crashed stocks are worthless TSX dropped $1 million/minute on 16 key companies
Results financial ruin for investors investors who bought stocks on margin now owed money to stockbrokers, couldn’t pay stockbrokers couldn’t sell stocks to survive in Canada, relatively few people owned stocks, but millions were affected by the results of the Crash of ’29.
Beginning of the Great Depression farmers stop buying manufactured goods manufacturers cut back on production workers let go or salaries reduced less money to buy goods Less manufactured goods bought And so on, and so on…