Anonymous
Anonymous asked in Arts & HumanitiesHistory · 8 years ago

why did the british take control of the nyc money markets after the british created the 1929 crash?

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  • Maxi
    Lv 7
    8 years ago
    Favorite Answer

    American investors in New York City began to panic. Stocks that they had bought at high prices began to drop. More and more investors sold their stocks at whatever price they could get. Over two days, the value of companies being traded on the stock exchange fell almost 13 percent on Monday and another 12 percent the next day. That day became known as "Black Tuesday." Fortunes were wiped out. The stock market had crashed...............what has that to do with Britain? Greed of American investors was the reason and their lack of looking at the markets correctly and of course their own panic selling...........

  • 8 years ago

    The British did no create the 1929 crash. It was caused by frantic speculation by Americans.

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