The stock market crash of 1929 was a major turning point in history. It was an event that hit the United States hard, affecting both political and social groups. During the stock market crash; banks were forced to close, people lost all their savings they had in the banks, and after losing their savings from the banks, they eventually lost their businesses. Thus causing a downward spiral in the US economy and creating chaos. The stock market crash of 1929 was a painful time due to the loss of confidence in banks. First, when the stock market crashed, banks started closing causing chaos because people were unable to make transactions. (He couldn't deposit or withdraw money.) Since people were unable to access their money, people began to fear the possibility of not being able to pay their bills, or being able to provide enough to keep food on the table for their families. The banks wanted their money from the brokers. The middlemen wanted their money from the customers. The only way most customers could get the money was to sell the shares, and selling the shares depressed the market even more, increasing pressure across the board. (Judith S. Baughman, Victor Bondi, Richard Layman, Tandy McConnell, and Vincent Tompkins) When banks had to close completely, people began to lose their savings. All their hard earned money was suddenly taken away, as if they never had any money in the first place. People who were suffering from losing all their savings from the banks eventually began to feel frustrated with the government. Because the market was crowded with inexperienced but feverishly eager investors lacking capital reserves, the drop in prices produced a shock effect... middle of paper ......the stock market crash of 1929, Black Tuesday. Black Wednesday was used to refer to a day of widespread air traffic problems in 1954, as well as the day the British government was forced to withdraw a battered pound from the European Exchange Rate Mechanism in 1992. Black Thursday has been variously used for days of devastating fires, bombings and athletic defeats, among other unpleasantries. (The New York Times.) The stock market crash of 1929 was a major event in United States history that affected the lives of thousands of people. It also changes the way we deal with stocks in the United States today. People were then forced to sell property and personal items to survive during this period. People fought and made the necessary sacrifices to survive during the ordeal. With banks closing and losing their savings, they still managed to make it.