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September 4 – November 13, 1929
Fears of excessive speculation by the Federal Reserve
The "Roaring Twenties" was a time of wealth and excess. During the 1920s, the U.S. stock market underwent rapid expansion. The Wall Street Crash of 1929 ended the era, and the Great Depression started.
24 October 1929, is known as Black Thursday. On that day a record 12,894,650 shares were traded as investors rushed to salvage their losses. October 29, 1929, there was another Black Tuesday, in which stock prices collapsed completely.
It was the most devastating stock market crash in the history of the U.S. The United States slumped into the Great Depression that lasted until about 1939.