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Black Thusday The Crash

Black Thusday: The Crash

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Title: Black Thusday: The Crash

Essay Details:

Subject: History

Author: Armando M

Date: December 2, 2016

Level: University

Grade: A

Length: 4 / 1022

Essay text:

Despite the crash, reports remained optimistic. Major New York banks united to buy up $30 million worth of stock in efforts to stabilize the market, and president Herbert Hoover announced that recovery was expected. Hoover's claims had little merit; the situation became bleaker during the next week. October 29 broke the now four-day old NYSE record for number of transactions: 16,410,035 shares changed hands in total. The market dropped 17.3 percent, confirming, and cementing, the permanency of the crash. The coming months saw no recovery. The crash in the market spelled disaster for the national economy...

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