Stock Market Crash
- In 1929 the Stock Market Crashed due to people getting big loans and rapid growth in bank credit.
- Many banks lost peoples money and decided to close the banks because they couldn't pay the people back.
The 1900s was the period when the Industrial Area was. The US was beginning to expand there research in cars and other technologies that were benefiting the people at this time in many ways.
Many people at this time wanted to buy the new technology that was being invented but some didn't have enough money to buy them so they would ask for loans to the banks. When people couldn't pay back to the banks, the banks were being forced to lose money and take other peoples money. When the bank didn't have enough funds to payback to the other people they decide to close them and everyone money was lost.
The Stock Market Crashed lead to many other bad things in history. This had a big impact all around the world. The Stock Market lead to the Great Depression which impacted Americans in a big way. There was a lot of poverty after the Stock Market due to people loosing there money. Many people lost there jobs do to lack of money and people didn't have jobs which lead to chaos in the streets.