Thursday 24th October Flashcards
1
Q
In the first three hours of trading, how much did stock values plunge?
A
$11billion
2
Q
What did prominent bankers do to stop stock prices falling?
A
They met up and agreed to buy stocks above the market rate
3
Q
What effect did bankers buying stocks above the market have on individual companies?
A
Within a hour, US Steel was up $15 a share, AT&T up $22, General Electric up $21, Montgomery Ward up $23.
4
Q
How many shares exchanged hands on Thursday?
A
13 million shares had changed hands. A normal days transactions trade was 3 million shares
