The stock market crash 1929, often known as the Great Crash, was a sequence of significant drops in October and November. Fueled by excessive speculation and unsustainable stock values, the market peaked in September before falling. Black Monday, October 28th, fell 13%, followed by a 12% loss on Black Tuesday.
Panic selling erupted, wiping off billions and sparking the Great Depression. By 1932, the Dow Jones Industrial Average had lost an astounding 89% of its value, and it would take years to recover. This catastrophe revealed flaws in the financial system and served as a sharp reminder of the risks of unbridled speculation. It also resulted in substantial improvements aimed at mitigating future calamities.