What was the name given to the day on which the market took a massive drop?

Question

History

Jett Sanchez

4 August, 16:25

What was the name given to the day on which the market took a massive drop?

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Answers (1)

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Tommy Floyd · Answer 1

Answer: The Great Economic Depression.

Explanation:

The economic collapse of the world's significant economies occurred in 1929. The economic downturn that began in the US has been reflected in all major economies in the world. The Great Economic Depression will lead to an enormous rise in unemployment, hunger and poverty.

The causes of economic depression are multiple, and the most significant is the lack of balance between the rich and the poor. Then the overproduction of products that led to market over-saturation. That day in history is also known as Black Tuesday.