The Impact of The Wall Street Crash Flashcards
How much did the stock prices index fall by 1932?
The index of stock prices had fallen from a 1929 high of 210 to a low of 30 in 1932.
What was the impact on stock prices?
Stocks were valued at just 12% of what they were worth in September 1929
How much did the US stock exchanges lose in value between September 1929 and June 1932?
The nations stock exchanges lost $179 billion in value.
What was the impact on unemployment?
By 1933, unemployment had soared to 25%, up from just 3.2% in 1929.
How did it impact industrial production?
Industrial production declined by 50%
How did it impact investment into the US economy?
In 1929, investment into the US economy totalled $16 billion, by 1933, the figure had fallen to $340 million. A decrease of 98%.
What did Hoover say in response?
Hoover insisted recovery around the corner, on the 8th June 1932, NY Index at 58.46.
What was the experts response to Wall Street Crash?
The Harvard Economic Society felt that the fall in prices would be temporary and would not cause economic depression.
