The wall street crash

Question 1

19th October 1929

Answer 1

A New York times newspaper story claims that shares are overpriced. 3.5 million shares were sold as a result and share prices began to fall

Question 2

21st October

Answer 2

6 million shares were sold. Crash is temporarily halted by people still buying

Question 3

22nd October

Answer 3

Share prices rose slightly. Market is still jittery

Question 4

23rd October

Answer 4

2.6 million shares were sold. Speculators had to put up more cash to pay loans that the banks were calling in, they had to sell shares to do this

Question 5

24th October (Black Thursday)

Answer 5

13 million shares were sold. There is a wild scramble to sell. No buyers could be found for some shares

Question 6

25th October

Answer 6

Top bankers buy large numbers of shares to keep prices up

Question 7

26th October

Answer 7

President Hoover reassured shareholders that ‘the fundamental business of the country is on a sound and prosperous basis’. This only convinced people things were seriously wrong

Question 8

28th October

Answer 8

Heavy selling started as soon as the market opened. 9 million shares were sold

Question 9

29th October

Answer 9

16.5 million shares were in the works day ever for the New York stock exchange. Real panic set set in