1. Was the 1929 stock market crash the cause of the Depression? Why or why not

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History

Lucille Key

18 July, 08:18

1. Was the 1929 stock market crash the cause of the Depression? Why or why not

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Cory Castaneda · Answer 1

The cause of the Great Depression was due to the crisis that originated in the United States, from the fall of the Wall Street stock market of 1929.

The crack of the 29, was one the biggest crisis ever known that erupted on October 24, 1929. On this date the stock market Wall Street suffered a fall in their prices.

This caused the ruin of many investors, both big businessmen and small shareholders, the closing of companies and banks. This led to unemployment of millions of citizens.

But the problem was not only in New York, this moved to almost every country in the world as a domino effect.

Gaven · Answer 2

The Stock market crash of 1929 was indeed the cause of the Depression, as the market crash put Wall Street in panic. Millions of the Stock investors lose it all. The lack of confidence in the situation ceased consumer spending; this resulted in massive layoffs of workers.