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1928 crash stock market
The Roaring Twenties, which was a precursor to the Crash, was a time of prosperity and excess in the city, and despite warnings against speculation, many believed that the market could sustain high price levels. The initial crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 28 and 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences for the United States. Stock prices fell on that day and they continued to fall, at an unprecedented rate for a full month. The Wall Street Crash of 1929, 1929 Great Crash, or the Great Crash, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout.. Shortly before the crash, Irving Fisher famously proclaimed, "Stock prices have reached what looks like a permanently high plateau." The euphoria and financial gains of the great bull market were shattered on Black Thursday, when share prices on the NYSE collapsed. Economist and author Jude Wanniski later correlated these swings with the prospects for passage of the Smoot-Hawley Tariff Act, which was then being debated in Congress. After the crash, the Dow Jones Industrial Average
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