ofit. In the summer of 1929, stockbrokers had lent out over $6,000,000.00 in margin loans (The 1929 stock market crash, 2000)..On Thursday October 24, 1929, the prices of stocks began to fall out. As prices dropped precipitously as more and more investors tried to sell their holdings. By the end of the day, New York Stock Exchange had lost more than four billion dollars. Shah 5(Babson, 1929) By the following Monday, the realization of what had happened began to sink in, and full-blown panic ensued. Thousands of investors, many of them ordinary working people, not serious investors were financially ruined. By the end of the year, stock values had dropped down by fifteen billion dollars (Babson, 1929).But the largest stock market crash in Wall Street and world financial history occurred on Monday October 19, 1987. When the Dow Jones Industrial Average fell from 2246 to 1738, plunged 508.32 points, loosing 22.6% of its value. From the close of trading on Tuesday October 13, to the close of trading on Monday October 19, the Dow fell by almost one third, indicating a loss of all outstanding US stocks of approximately One trillion Dollars (The 1987 Stock market crash, Key event: black Monday Crash of 1987 Rocks Stock market; 2000).Well, when stock market crashes, it does affect number of aspects of common lives as well the nation. Everyone could be in some way affected by the crash. Farmers, as well as the textile, mining, railroad, and lumber industries all may lose major income. Wages drop down and many workers might be laid off. U.S. Imports and Exports all decline because banks are low on money and can't afford anything. Foreign countries don't have enough money to buy U.S. Crops. When the farmers started to make less money, they started to produce more crops and that saturated the food market. All in all, many people can do many wrong things and as people backtracked to correct what have gone wrong, others get trample in the rush. So abo...
