Oct. 29, 1929: If stock market investors thought they had seen the worst on Black Thursday, they were mistaken.
The Great Crash of 1929 arrived on Tuesday, Oct. 29.
W.W. Forster, Financial Editor for The Pittsburgh Press, reported that billions of dollars were lost in the hurricane of tumbling prices.
“The bubble had broken. Millionaires were sent home paupers,” the journalist wrote.
The Great Crash signaled the end of the oaring Twenties and ushered in an era of severe unemployment and economic uncertainty. Some economists believe that the America did not return to a firm financial footing until 1941, the year the United States entered World War II.