we have a work day
bank failures-little over 4000
set off a nationwide run on US gold deposits
which forced the Federal Reserve to raise interest rates
business failures
unemployment rates
caused shock and confusion
marked the end of the roaring 20s
the uptick rule-allowed short selling when the last tick in a stocks prices was positive
this prevented short sellers(an investor who sells a stock with the knowledge that they will have to buy it back at a later time) from driving the price of stock down
the average price of of a share fell 12%
http://1930stextbook.wikispaces.com
over 5000 banks and businesses closed as a result of the crash; most of those that didn't fail fired workers and lowered wages
page 14-2 in the book
wikipedia.org
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