Answer:
The
Wall Street Exchange of USA crashed in 1929. As a result, values of shares
dropped drastically and the national income of the USA fell by half. Hundreds
of American banks, factories, mining companies and business firms went
bankrupt. There was large scale unemployment, poverty and starvation in the
country. The effects of this recession in the US economy were felt worldwide.
It is known as the Great Depression of 1929.
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