THE WALL STREET CRASH

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought 

the plan had worked, but in reality, it hadn’t. People all over the United States were 

still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

The economy of the USA grew heavily. 

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought 

the plan had worked, but in reality, it hadn’t. People all over the United States were 

still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

The Roaring Twenties came to an end suddenly after the First World War, with the Wall Street Crash.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought 

the plan had worked, but in reality, it hadn’t. People all over the United States were 

still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

The problem was that it wasn't too difficult for people to lend money.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought 

the plan had worked, but in reality, it hadn’t. People all over the United States were 

still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

The Dow Jones Index is a list of 30 of the most powerful stocks on the stock exchange.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought 

the plan had worked, but in reality, it hadn’t. People all over the United States were 

still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index rose harmfully.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought the plan had worked, but in reality, it hadn’t. People all over the United States were still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

The next day, the leaders of New York’s most important banks bought a large number of shares in ‘blue chip’ companies.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought the plan had worked, but in reality, it hadn’t. People all over the United States were still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

Their plan really worked.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought the plan had worked, but in reality, it hadn’t. People all over the United States were still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

In November, the market began to get over, but millions of people had already lost everything.

Read the text "THE WALL STREET CRASH" and choose true or false.

The Wall Street Crash

After the First World War, from 1918 to 1929, the USA’s economy grew quickly.  

On Wall Street, share prices on the American stock market rose, and a lot of people believed this growth would never stop. But this period of prosperity – known as  the Roaring Twenties – ended suddenly with the Wall Street Crash.

The problem was that it was too easy for people to borrow money. As share prices 

rose, the banks lent more and more money so people could buy more and more 

shares. After all, if share prices continued to rise, they would make a lot of profit. But  if they fell, then people wouldn’t be able to pay back the money they had borrowed.

Sadly, this is exactly what happened in September 1929 when the Dow Jones Index – a list of 30 of the most important stocks on the stock exchange – started to fall in value. Suddenly, people started selling all of their shares. On Thursday 24th October 1929, people traded 12.9 million shares and the Dow Jones Index fell dramatically.

The next day, the heads of New York’s biggest banks decided to act. They bought a large number of shares in important or ‘blue chip’ companies. At first, they thought the plan had worked, but in reality, it hadn’t. People all over the United States were still selling their shares. On Monday – ‘Black Monday’ – the Dow Jones Index fell by 13%. On Tuesday, the index fell by another 12%. That day, the market lost $14 billion in value. In November, the market began to recover, but millions of people had already lost everything.

People that had borrowed money couldn’t afford to pay it back. Some people – those that owed a lot of money – lost their homes and their savings. A lot of people that hadn’t borrowed money lost their jobs, as companies across the United States closed down. The country went into an economic depression that soon spread around the world. It was the longest-lasting depression in the 20th century.

The longest-lasting depression was in the USA.