"The selling pressure was ... coming from everywhere. The wires to other cities were jammed with frantic orders to sell. So were the cables, radio, and telephones to Europe and the rest of the world.
Buyers were very few, sometimes wholly absent."
- Jonathan Norton Leonard, journalist
Read the excerpt and answer the question below.
This excerpt describes the panic selling of stock shares on October 29, 1929. Which statement best explains why people
were desperate to sell their stocks?
a. Share prices were rising very quickly, so stock owners wanted to collect their big profits right
away.
b. Experienced investors were selling large amounts of stock; thousands of other stockholders
followed their lead.
Share prices were falling very rapidly, completely destroying the value of many stocks.
d. Speculators were making vast fortunes, and many people feared that they would lose out on the
stock bonanza.

C.

Explanation:

This is referring to the Great Depression(beginning). The reason the Great Depression happenned was due to overspeculation of industry after WWI. This lead to a large stock fallout after no more WWI materials(or not as many) were needed, leaving factories, businesses, and workers desolate. This lead to a stock drop on wall street in which millions of stockholders decided to pull their investments which further killed the American economy. Then, the federal reserve put more money(by printing cash) into circuit around the country. This caused large deflation which further hurt the economy, leading to the GB. Regardless, it is C.

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