The Wall Street Crash
History: KS3, topic 18.1.1
The Wall Street Crash
Wall Street, in the United States of America, crashed in October 1929 AD. This caused the Great Depression.
Selling shares
- In September 1929 AD, lots of US investors were selling their shares (a stake in a company).
- On 24th October 1929 AD, investors sold a total of 12.8 million shares.
- This caused nervousness and people did not have faith in the US economy.
- The economy collapsed.
- This led to the Wall Street Crash.
US Banks
- US banks lost billions of dollars.
- Thousands of people lost their savings from banks.
Global impact
- As a consequence of the crash, US banks called in the loans they had made to companies and countries across the world.
- This led to millions losing money.
The Great Depression
- The Wall Street Crash led to a period called the Great Depression.
Test yourself on The Wall Street Crash
What were US investors selling?