"Black Thursday"

"Black Thursday" was the name given to the 24th of October 1929, a day when businesses all over the U.S.A collapsed, leaving thousands of people ruined. This disaster was caused by the "Wall Street Crash" which took place in New York in 1929. As people were running out of money and they could see that the prices for the shares were coming down, in September, they started to rush to sell their shares so not to lose too much money on them. The poblem was that no one wanted to buy shares because the prices of the shares were going down very quickly. People hoped that maybe the banks would buy thier shares and keep the high value of it, but they couldn't as they were also short of money.