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The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
Austrians argue that government intervention after the crash of 1929 delayed the market's adjustment and made the road to complete recovery more difficult. [42] [43] Acceptance of the Austrian explanation of what primarily caused the Great Depression is compatible with either acceptance or denial of the monetarist explanation.
After the Wall Street Crash of 1929, when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with the Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932.
This is part two of a deep look at the Roaring '20s and the Crash of 1929 -- click here to start with part one. The Dow Jones Industrial Average closed at 381.17 points on Sept. 3, 1929. It
I've been in the Library of Congress lately reading financial newspapers from the week of the October, 1929 stock market crash that ultimately crushed the Dow Jones by nearly 90%. Last week, I ...
The stock market crash in 1929 not only affected the business community and the public's economic confidence, but it also led to the banking system soon after the turmoil. The boom of the US economy in the 1920s was based on high indebtedness, and the rupture of the debt chain caused by the collapse of the bank had produced widespread and far ...
However, the mini-crash was averted two days later when National City Bank pumped $25 million in credit into the stock market. Summer: Consumer spending and industrial production begin to stagnate. The Federal Reserve continues with its plan to raise interest rates from 4% in mid-1928 to 6% by mid-1929 in an attempt to combat speculative behavior.
Recently, several market analysts have argued that the Dow Jones Industrials is setting itself up for a repeat of the Crash of 1929, the plunge.