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Black Tuesday – investment bankers tried to shore up markets prices by purchasing as many shares as they could. The effort was not enough to stabilize an overvalued market. On October 29, the bottom fell out. Some 16 million shares were sold, causing such a collapse that by mid-November the average price of securities had been cut nearly in half. Speculation – engaging in a risky business venture on the chance that a quick or sizable profit can be made. As prices rose, more and more people began speculating. Buying on Margin – to maximize the potential profit on their investment, speculators did this. One made a small cash down payment and borrowed the rest from a stockbroker. Stock Crash – some profession speculators sensed danger and began to pull out, and prices slipped. Almost 13 million shares of stocks were frantically traded. As stock values dropped below the amounts borrowed to purchase them, brokers demanded that investors repay their loans.
Approximate Word count = 632
Approximate Pages = 2.5
(250 words per page double spaced)
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