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The Wall Street Crash of 1929 was the most devastating stock market crash in the history of the USA, taking into consideration the full extent and duration of its fallout.The crash signaled the beginning of the 12-year Great Depression that affected all Western industrialized countries and that did not end until the onset of American mobilization for WWII at the end of 1941. On October 29, Black Tuesday, the Dow Jones Industrial Average fell 38 points to 260, a drop of 12.8%. The deluge of selling overwhelmed the ticker tape system that normally gave investors the current prices of their shares. Telephone lines and telegraphs were clogged and were unable to cope. This information vacuum only led to more fear and panic. The technology of the New Era, much celebrated by investors previously, now served to deepen their suffering. Forced to liquidate their stocks because of margin calls, overextended investors flooded the exchange with sell orders. The glamour stocks of the age saw their values plummet. Across the two days, the Dow Jones Industrial Average fell 23%.
