Since the stock market had closed down, this meant that their savings and capital were lost.This affected the labor in the businesses since they had to cut on the number of workers who worked in the corresponding companies.Tags: Fantastic Voyage EssayEducation And Critical ThinkingThesis Life AfterSample Essay IntroductionPhd Thesis Proposal In Strategic ManagementYema Business PlanMichigan Creative WritingDescriptive Essay On Your Favorite PlaceMiranda V Arizona Essay Paper
Economic impact of the Great Depression Failure of the stock market.
The stock market was not the only one that was affected; actually, that was just but the beginning of the Great Depression.
This is because they directly depended on the stock market.
When this happened, it caused much panic even to other people, and this is what made them go to the other banks that were open to withdraw their money.
Many people tried as they could to sell their stock, but, unfortunately, no one was ready to buy.
The stock market that had for long been viewed as a path to wealth and richness was now a sure path to bankruptcy (Martin 106).
The day when this happened is referred to as Black Tuesday, and it is the day when the stock market crashed.
That was the official date when the Great Depression started.
They could also not make it to feed their families, not mentioning themselves.
Some of the farmers had also capitalized on the stock market and bank.