What was the outcome of the stock market crash of October 1929?

Question

Quizplus · Accepted Answer

The stock market crash of October 1929 led to the failure of many banks, causing many middle-class Americans to lose their life savings. The crash also contributed to the Great Depression, which led to high levels of unemployment. Option A is incorrect because the federal government did not have a system in place to insure bank deposits at this time. Option B is incorrect because many middle-class investors also lost money in the crash. Option D is incorrect because unemployment actually increased as a result of the crash and the Great Depression.

What Was the Outcome of the Stock Market Crash of October