00:00The stock market once lost 89% of its value.
00:03In the 1920s, ordinary Americans were buying stocks with borrowed money,
00:08putting down just 10% and financing the rest.
00:12The Dow surged sixfold in eight years.
00:15Everyone thought it would never stop.
00:17But behind the hype, the real economy was already cracking.
00:21Steel down, car sales dropping, consumers drowning in debt.
00:26Then the Fed hiked rates, foreign economies tanked,
00:29and confidence evaporated overnight.
00:32Black Monday, Black Tuesday.
00:35The Dow collapsed nearly 25% in two days.
00:3916 million shares dumped in pure panic.
00:42Top bankers tried to prop it up by buying shares publicly.
00:46It didn't work.
00:47The market didn't recover for 25 years.
00:50Follow for more history that actually matters.
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