Question

The Wall Street Crash of 1929 is also known as _____.
A. Black Monday
B. Black Tuesday
C. Black Sunday
D. Black Friday

Answer 1

Hint:Black Tuesday refers to an abrupt drop in the estimation of the Dow Jones Industrial Average (DJIA) on Oct 29, 1929. The date denoted the start of the Great Depression, which went on until the start of World War II.

Complete answer:
 The Wall Street Crash of 1929 was known as Black Tuesday. Black Tuesday was the fourth and last day of the stock market crash of 1929. It took place on October 29, 1929. Investors traded a record 16.4 million shares. They lost $14 billion on the New York Stock Exchange, worth $206 billion in 2019 dollars.
On Black Tuesday, the Dow Jones Industrial Average dropped almost 12% closing at 230.
After the crash, the Dow continued sliding for three more years. It finally bottomed on July 8, 1932, closing at 41.22. All told, it lost almost 90% of its value since its high on September 3, 1929. In fact, it didn't reach that high again for 25 years until November 23, 1954. Losses from the stock market crash helped create the Great Depression.

Black Tuesday brought about destroying outcomes for the US economy as well as for different economies around the globe. The market decline finished the time of financial development and flourishing and prompted the Great Depression. Black Tuesday set off a chain of calamitous macroeconomic occasions in the US and Europe, which included mass insolvencies and joblessness, and emotional decreases underway and cash supply. In the outcome of Black Tuesday, America and the remainder of the industrialized world spiraled descending into the Great Depression (1929-39). The US stock market fully recovered from the consequences of Black Tuesday only in the 1950s.

Hence, the correct answer is option (B).

Note:The financial exchange crash of 1929 was not the sole reason for the Great Depression, but rather it acted to quicken the worldwide monetary breakdown of which it was additionally a side effect. By 1933, almost 50% of America's banks had fizzled, and joblessness was moving toward 15 million. individuals, or 30% of the labor force.