On This Day - What happened 24 October 1929 AD

The stock market in the United States crashed on 24 October 1929. The impact in Germany was dire: millions were thrown out of work and several major banks collapsed. Hitler and the NSDAP prepared to take advantage of the emergency to gain support for their party. They promised to repudiate the Versailles Treaty, strengthen the economy, and provide jobs.

The Black Thursday crash of the Exchange on October 24, 1929, and the sell-off panic which started on Black Tuesday, October 29, are often blamed for precipitating the Great Depression. In an effort to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938.

Wall Street Crash of 1929 begins. Stocks lose over 11% of their value upon the opening bell. Economic historians usually consider the catalyst of the Great Depression to be the sudden devastating collapse of U.S. stock market prices, starting on October 24, 1929.