What Caused The 1929 Stock Market Crash?

The 1929 stock market crash was one of the worst financial disasters in the history of United States of America. The stock market crash was also known as 'The Wall Street Crash of 1929'; it was also termed as the 'Great Crash' and the Crash of '29. The crash of the market started on the 24th of October which was termed as "Black Thursday", it continued till 29th of October which was termed as "Black Tuesday". The Crash occurred when the share prices on the New York Stock Exchange Collapsed.

Black Tuesday is considered to be the worst day in the United States Stock Market, however percentage wise the black Monday crash was more harmful than the black Tuesday.

In the words of Richard M. Salsman, "Anyone who bought stocks in mid-1929 and held on to them saw most of his adult life pass by before getting back to even."

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Many site the Crash of '29 as mere market correction or a part of an economic cycle. Others blame foreign retaliation of the Smoot-Hawley Tariff which raised taxes on imported goods. Although the bill was passed nearly eight months after the crash, there was obviously public debate about it beforehand.

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