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The stock market crashes, all stocks down 80% from their highs.
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The Smoot and Hawley act creates more than 900 international trade duties. This act was put in place to protect American farmers, businesses, which then caused strain on the international economic climate of the Great Depression.
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NASDAQ a stock market, with U.S.A. based equities became public. Becoming the first all electronic stock trading market.
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Second stock market crash in recorded history. This crash spread from Europe to Hong Kong all the way to the United States.
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Declared the worst economic crisis since the Great Depression in 1929. This was caused by the near collapse of the U.S. banking system, and the aggressive efforts to prevent it, were ineffective. This was called the Great Recession since housing prices fell more than 31%, and the unemployment rates skyrocketed again.
