c. Why did the Crash cause a depression?
On Black Thursday, 24 October, panic began as it became clear that shares were being valued higher than the actual value of companies. 12,894,650 shares were sold on this day. On 29 October, Black Tuesday, a total of 16,410,030 shares were traded. The crash acted as a trigger for general economic collapse. 'The stock market debacle dealt Americans both a financial and an emotional body blow...Within one year, GNP...