On October 29th, the Wall Street observed a crash. This day was known as Black Tuesday. Earlier, Black Thursday was observed on 24th October, 1929, the previous week. About 16 million shares were sold and the stock market crashed. The Great Depression lasted from 1929-1939. The panic withdrawal from the banks made nearly half of the American banks fail/collapse.
The US withdrew its loans back from the European markets and thus the whole international loan market collapse. Economically deplorable state led to rise of Fascism. However, towards the end of 1939 and plunging into World War II, revived the economy.
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Негізгі бет THE GREAT DEPRESSION (PART 1) | INTERNATIONAL RELATIONS B/W TWO WARS | WHEN IT STARTED AND ENDED
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