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From hippocampus.org (Approved: helpingnorth), produced by University of California
 
By September of 1929, nervous investors began selling stocks in order to get out of the market while prices were still high. As the volume of selling increased, stock prices began to fall in October. On October 24 (Black Thursday) and October 29 (Black Tuesday), prices fell drastically as sellers panicked. By December, a staggering $40 billion in stock value had been lost. Hoover and business leaders attempted to calm Americans by assuring them that the country's economy was fundamentally sound. J.P. Morgan and other bankers bought $20 million of U.S. Steel to try to restore confidence, but to no avail. The Stock Market Crash of 1929 did not by itself cause the American economy to collapse. Many factors contributed to a situation so precarious that this event was but the first of a cascade of collapses on many different fronts around the entire world. (Video is narrated with slides and speeches.)
 
Ages: 14 - 18 License: Proprietary Owner: University of CA and Monterey Institute for Technology and Education Found by helpingnorth
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