The real stock market crash: the 1929 Great Crash in the United States, thousands of rich people went bankrupt and jumped off buildings
October 29, 1929, was called "Black Tuesday". It was the darkest day in the history of American securities and the most influential and harmful economic event in American history, affecting Western countries and even the entire world. The United States and the world entered a 10-year economic depression. On October 19, 1987, the largest crash in history broke out. The Dow Jones Index plummeted 508.32 points in one day, a drop of 22.6%. The stock market crash caused great panic among stockholders in Western countries. Many millionaires became paupers overnight, and thousands of people suffered mental breakdowns and jumped off buildings to commit suicide. This day was called "Black Monday" by the financial community.
Later generations also used "Black Thursday", "Black Friday", "Black Monday" and "Black Tuesday" to describe the Wall Street stock market crash. This is because the stock market crash did not start and end in one day, so these four nicknames are also appropriate. The Wall Street crash first occurred on Thursday, October 24, 1929, but the stock market crash did not really break out until Monday, October 28 and Tuesday, October 29. This stock market crash not only sounded the alarm for economic recession in advance, but also marked the beginning of a long-lasting depression in the United States and the world. As for the Wall Street stock market, the sharp decline continued for a month after the stock market crash.
"Anyone who bought stocks in 1929 and held on to them would have to wait for most of his life to pass before he could earn back what he lost." - Richard M. Sussman
