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Essay

Stock Market

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Ellis J

 

Date added:

December 9, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 529

 

Was viewed:

5606 times

 

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Essay content:

On Tuesday morning, out-of-town banks and corporations called in $150 million of call loans, and Wall Street was in a panic before the New York Stock Exchange opened. On October 24, 1929, people began selling their stocks as fast as they could. Sell orders flooded market exchanges. On a normal day, only 750-800 members of the New York Stock Exchange started the Exchange...
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However, there were 1100 members on the floor for the morning opening. The Exchange then directed all employees to be on the floor since there were numerous margin calls and sell orders placed overnight and extra telephone staff was arranged at the members' boxes around the floor. The Dow Jones Industrial Index closed at 299 that day...
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