Black Tuesday and the beginning of the Great Depression On October 24, 1929, the United States of America experienced the worst financial and economic crisis in its history, as stock prices on the Wall Street Stock Exchange collapsed dramatically. Because of this, a huge number of Americans who had invested their money in the stock …
Black Tuesday and the beginning of the Great Depression
On October 24, 1929, the United States of America experienced the worst financial and economic crisis in its history, as stock prices on the Wall Street Stock Exchange collapsed dramatically. Because of this, a huge number of Americans who had invested their money in the stock market found themselves bankrupt, and this crisis spread to the banks following the massive customer demand. To withdraw their money and the religious people did not commit to repaying their loans, and stocks continued to collapse on Wall Street throughout the following days, and as a result began the Great Depression, or the Great Depression, which continued throughout the thirties, causing the deterioration of the economic and social situation in the United States of America and becoming one of the worst economic crises historically in the world.
Black Monday
October 19, 1987 is a day that will forever be engraved in the history of Wall Street as “Black Monday,” as investors engaged in a day-long selling wave that ricocheted around the world and tested the limits of the financial system. This led to the crushing of European and Asian markets and their decline varying between 25% and 50%, and with the closing of trading on this day, investors were shocked and cried like children, as they watched their financial world completely collapse. On that fateful day, the stock market witnessed a catastrophic collapse, and millions of dollars disappeared from the stock markets on the major global stock exchanges, as the Hong Kong economy lost 45.8 percent of its value and the economy lost. The Australian losses amounted to 41.8 percent of its value, while the British losses were greater and were estimated at 60 percent
The ruble disaster and the Russian collapse
On August 17, 1998, Russia entered into a severe economic and financial crisis, as the ruble lost 60 percent of its value within 11 days. Moscow announced its inability to pay its foreign debts and was unable to borrow again from global markets for a decade, given that it is a country that owns a third of the world’s reserves. Of oil and gas, therefore, prices were exposed to great fluctuations, foreign investors withdrew their money from the market, and banks were exposed to a major shock, which made even the International Monetary Fund unable to intervene.
Mortgage crisis
The global financial crisis of 2008 was primarily caused by banks in the United States granting high-risk real estate loans to people whose financial situation was questionable and then selling them in the form of investments to financial institutions. As the borrowers defaulted and were unable to repay, the real estate bubble burst, and a collapse occurred in the financial markets, and the banking sector entered into… A crisis that culminated in the bankruptcy of Lehman Brothers and millions of Americans lost their homes as a result of the crisis.
Corona epidemic
Global stock markets collapsed in March 2020 after the World Health Organization announced that Covid-19 had become a pandemic that would require placing a large part of the world under closure and strict health restrictions. The day after the announcement on March 11, global stock markets recorded massive losses in what was known as “Black Thursday” and continued. This suffering lasted for days, especially in the United States, where the stock market lost more than 12 percent on March 16. The impact of the Corona pandemic was not limited to that, but expanded to lead to major global economic repercussions. Global economic activity declined and slowed as a result of the health precautionary measures imposed by countries, and sectors were disrupted. Production, unemployment rates rose, most global economic sectors incurred billions of dollars in losses, the global economic growth rate declined, and there were collapses in oil prices.
