This is a sudden dramatic decline of stock prices across a significant cross-section of the stock market, resulting in a significant loss of paper wealth.
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Great Depression: A severe worldwide economic depression that took place during the 1930s. The timing varied across nations; in most countries, it started in 1929 and lasted until the late-1930s. It was the longest, deepest, and most widespread depression of the 20th century.
Wall Street: Home to the New York Stock Exchange and considered a symbol of America's financial sector. Wall Street has seen several crashes including the infamous one in 1929 which led to the Great Depression.
Speculation: The act of conducting a risky financial transaction with the hope that if successful it will yield considerable profit. Speculation can often lead to inflated stock prices which can result in a crash when everyone tries to sell their overvalued stocks at once.