In the 1920s, the US stock market expanded rapidly and reached a peak in August 1929, when prices began to decline while speculation increased. On October 24, “Black Thursday,” a record 12,894,650 shares were traded. Banks and investment companies bought large blocks of stock to stem the panic, but on October 29, “Black Tuesday,” 16 million shares were traded and prices collapsed. Why do some scholars contend that the stock market crash was not the cause of the Great Depression? Discuss
Source: The Free Dictionary