The Wall Street crash of 1929 was the most devastating crash in U.S. history and helped signal the beginning of the twelve harsh years known as 'The Great Depression'.
The 1920s was a decade of excess, coming off the heels of WWI. The market had been on a nine-year run, and investors believed the stock market would go up forever. Surprise, it didn't!
Long story short, the market lost over $30 billion in the space of two days, $14 billion on October 29 alone.
What was to blame? An oversupply of produce, an economic bubble, and widespread panic after a similar London crash.
Mobilization for World War II efforts in 1941 eventually helped pull America out of its economic turmoil.
Watch More with TheStreet:
- A Banking App for Millennials That Doesn't Judge Users, From JPMorgan
- America's Love for Pumpkins by the Numbers: Video
- Nicki Palmer, Verizon Wireless CNO, is a Breast Cancer Survivor Too
- Where Was Stranger Things and Your Other Favorite Netflix Series Filmed?