Wall Street Crash of 1929 Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Stock Market Crash of 1929 or the Great Crash, is the stock market crash that occurred in late October, 1929. It started on October 24 ("Black Thursday") and continued until October 29, 1929 ("Black Tuesday"), when share prices on the New York Stock Exchange collapsed. It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects. The crash, which followed the London Stock Exchange's crash of September, signalled
Wall Street Crash of 1929 Kondratiev and Charles E. Mitchell, the crash was merely a historical event in the continuing process known as economic cycles. The impact of the crash was merely to increase the speed at which the cycle proceeded to its next level. Milton Friedman's "A Monetary History of the United States", co-written with Anna Schwartz, advances the argument that what made the "great contraction" so severe was not the downturn in the business cycle, protectionism, or the 1929 stock market crash in themselves, but the collapse of the banking system during three waves of panics over the 1930–33 period. Wall Street Crash