Why did the boom suddenly come to an end in october 1929?

Why did the boom suddenly come to an end in October 1929? The boom in America came to an end due: To the fact that in October the Stock Market plunged and as the people that profited from the boom speculated on Wall street they got badly effected by it resulting in them losing their house and all their others goods. These people came to live in Hoovervilles just outside the city with "houses" made of …

…to come. On October 29, later nicknamed "Black Tuesday," the stock market crashed. On that day, over 16 million shares of stock were sold and the market fell over 14 billion dollars. By comparison, the entire budget of the U.S. Government that year was three billion dollars. Brokers screamed as hysterical visitors were taken away by the police. In one day, the United States lost more capital than it had spent in all of World War I.