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Elza [17]
3 years ago
10

Hi i need help really bad

History
1 answer:
lorasvet [3.4K]3 years ago
3 0

Answer:

it will be harmful to us

Explanation:

it can harm to our hole life also

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People sold off bank stocks, making them worthless.

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The Stock Market Crash of 1929 caused a series of bank runs which destroyed the people's trust in the banking system. It began as a rumor that the banks were unable to pay cash which then transcended to panic among customers causing them to withdraw their funds en masse. They also spent little thus causing a stagnant economy. People withdrew their cash from the banks thus causing the solvency of many banks.

Banks in turn liquidated their loans and sold their assets at very low costs.

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