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During the great depression, many people had invested in the stock market on credit.
What was the Great Depression
The Great Depression also referred to as the Economic Depression was a very severe worldwide economic depression that occurred mostly during the 1930s, with its origin in the United States.
The Great Depression varied around the world. In most countries, it began in 1929 and lasted until the late 1930s. It was the longest, deepest, and most widespread depression of the 20th century.
In New York for instance, a very large number of people had been buying stocks on credit and not using real money. When people and banks started requesting for the money they had loaned, no one had enough money to repay.
This implied that people who deposited their savings in banks could not retrieve their money back.
Learn more about the Great Depression at https://brainly.com/question/441267
