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.
The reason why Nikola Tesla is famous cause n<span>ikola Tesla was a Serbian-American inventor, electrical engineer, mechanical engineer, and physicist</span>
he Historic Importance of the 2008 Presidential Elections. In the United States, Presidential elections are particularly important because they involve mobilized bureaucratic political machines, the large corporations, and tens of millions of millions of Americans who vote and get involved in doing the daily work of the political parties.
