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Financial experts warned the public the the American Economy is slowing down. With this warning in mind, investors started selling their shares in large numbers in September 1929. By 24th October 1929, 12.8 million shares were sold and another 16 million shares were sold at a very low price on 29th October 1929. The panic selling of shares lead to the collapse of the stock market in New York.
The aftermath of the wall street crash was very disastrous. Investors lost their money and was not able to pay off their debts. Many banks closed, leaving their depositors with no money nor hope for the future. Ordinary people lost their means to buy foods and other basic needs like shelter and clothes. Companies have to downsize resulting to firing of redundant workers and lowering the wages of the remaining workers. Unemployment rose to very high level.
The Wall Street Crash led to the beginning of the Great Depression in the 1930s.
Search Results<span>After the Civil War, a major goal of the Radical Republicans in Congress was to gain voting rights for the newly freed slaves. Why did Radical Republicans oppose Abraham Lincoln's Reconstruction plan? After Reconstruction ended in 1877 Jim Crow laws placed major restrictions on rights.</span>
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Iranian Revolution, also called Islamic Revolution, Persian Enqelāb-e Eslāmī, popular uprising in Iran in 1978–79 that resulted in the toppling of the monarchy on February 11, 1979, and led to the establishment of an Islamic republic
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