„Black Friday“

On 25 October 1929, which will go down in history as „Black Friday“, a major stock market crash on New York’s Wall Street marks the beginning of a world-wide economic crisis. It will leave a decisive impact on the twentieth century’s 1930s.

Source: nrw2000.de Crowd on Wall street after the slump of the quotations

Share prices drop to an all-time low. The credit system collapses, first in the United States, then in all other industrial nations. The German economy’s dependence on American credits now hits home hard: US banks begin to withdraw their short-term loans from the Reich. The collapse of many firms is the immediate consequence. The number of partially and completely unemployed workers rises by leaps and bounds.