Question
On October 29, 1929, The U.S. stock market lost more than $14 billion in one day. This caused: (1 pt)(1 point) Responses Banks closed, all loans were paid off, shops and factories closed. Banks closed, all loans were paid off, shops and factories closed. Banks remained open, loans were called in, customers’ life savings were preserved. Banks remained open, loans were called in, customers’ life savings were preserved. Banks demanded repayment of the loans they’d given, and many investors lost their life savings. Banks demanded repayment of the loans they’d given, and many investors lost their life savings. Banks prospered, and all investors retained their money and earnings.
Answers
GPT-4o mini
The correct response is: **Banks demanded repayment of the loans they’d given, and many investors lost their life savings.**
The stock market crash of 1929 led to a widespread financial crisis, resulting in bank failures and significant losses for investors who had invested heavily in the market.
The stock market crash of 1929 led to a widespread financial crisis, resulting in bank failures and significant losses for investors who had invested heavily in the market.