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History, 09.01.2021 08:10 nataliahenderso

5. October 24, 1929 is known as Black Thursday. What happened on this day? Nervous investors sold large quantities of stocks resulting in the stock market losing one-quarter of its value.

People made runs on their banks withdrawing all of their money which forced the banks to close.

Congress passed the Smoot-Hawley Tariff to restrict imports which caused many American businesses to go bankrupt.

The Federal Reserve Board threatened to cut back on its loans to banks causing a panic among investors.

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5. October 24, 1929 is known as Black Thursday. What happened on this day? Nervous investors sold l...
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