The Wall Street Crash (T1) Flashcards
When did the New York stock exchange crash?
Between 24 and 29 October 1929.
How much of the stocks and shares did the stock exchange handle?
61%
What happened on Thursday 24th October 1929?
Massive amount of selling began on the New York stock exchange.
What was the impact of this selling?
Forced prices down and led to more selling still as brokers feared they would be left with worthless stock.
What was the volume of trading on the following Monday?
Less than that of the previous Thursday.
What was the day the stock market crashed?
Tuesday 29th October.
How much of a drop did The Dow Jones Industrial Index show?
A drop of 38 points on the day’s trading.
What happened on Tuesday 29th October?
Confidence collapsed completely.
What was the amount of shares sold?
16,410,030 shares were sold.
How much did the Dow Jones Industrial Index fall altogether?
Fell a further 30 points to 230, a fall of 11.73%
How much money was lost on the stock market?
In a few weeks, as much as $30 billion had been lost out of $100 billion.
What was stock market performance based on?
Based on indexes such as the Dow Jones Industrial Average.
What was the Dow Jones Industrial Average based on in the 1920s?
Based on the performance of 30 of the largest companies quoted on the stock exchange.
Why were points used instead of prices?
To indicate trends and average performance.
What did the Dow average in 1924 compared to 1929?
100 points in 1924 and rose to 400 before the Crash in 1929.
