The avalanche.At about 11:00 am the selling

The stock market crash of October 24, 1929, also known as “black tuesday” is the worst financial panic the country has ever seen as it caused devastation for families and businesses across Canada. In the past, our market were as well as that of america and has had rapid expansion, reaching its peak in August of this year, after a period of wild investment in stocks by people of all economic classes, in the hope of gain and the lack of regard for the risk of loss. By that time, production had diminished and unemployment had risen. Stocks were in overabundance of their real value.Some other causes of this market collapse seem to be our low wages, our struggling agricultural sector, the rapid increase of debt and an excess of large bank loans that could not be liquidated. At this point many lost faith in Wall Street, which led to an unhealthy economy with little confidence in the market.Last tuesday began with nearly all brokers making margin calls for additional funds  to cover their positions. More and more of their calls were left unanswered and they began to throw sell orders into the market in order to protect themselves. The prudent actions of the people turned into fear of selling to late and the crash of the  market began to accelerate. The fear turned into panic and sock prices started to collapse completely. Banking support unable to prevent break accompanied by Wild Trading. Prices tumble like an avalanche.At about 11:00 am the selling activity reached a peak and for about 6 minutes the markets broke down completely. Wheat dropped from $1.40 to $1.31 with millions of bushels thrown onto the market.Protesters demanding jobs as they are in dire need after the crash.Crowds had begun to gather outside the Toronto Stock Exchange. Order broke down, police were called in and the markets kept following. Wall street is in a panic, with no one to guide it out.Ticker Tapes fell hopeless behind the action with exchanges losing touch with each other due to the volume of activity. Montreal which had average about 25,000 shares traded a day jumped to over 400,000 shares and New York traded over 13 million shares. People rushing to banks to take out any stocks left in their names before it’s too late.The bankers, brokers and politicians have stepped forward claiming that the slide in the market was a glitch and that the fundamentals of the economy were sound. They helped steady the market on Friday but over the weekend many investors had a chance to think about their positions and on Monday the slide began again as the sell orders once again flooded in. The Toronto Stock Exchange slide by one million dollars a minute and by the close of trading on Monday, the brokers had sent out margin call notices to almost all of their clients in an effort to stem the selling.

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