Why were economies as far flung as the Americas, Europe, Asia, and Africa so intricately connected in this period, and how did failure in one set off a chain reaction in the rest?
The stock market crash crippled the American economy because not only had individual investors put their money into stocks, so did businesses. When the stock market crashed, businesses lost their money. Consumers also lost their money because many banks had invested their money without their permission or knowledge.
