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2021-05-06

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This Day In Market History: Panic Of 1893 Crashes Stock Market

What Happened?On this day in 1893, U.S. stocks suffered their worst intraday loss in history at the

This Day In Market History: Panic Of 1893 Crashes Stock Market

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Ealmighty
·2021-05-06
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Lizzie Borden was acquitted of the ax murders of her father and stepmother. A fresh, one-pound beef steak cost 10 cents.</p>\n<p><b>Panic Of 1893:</b>On May 5, 1893, the Dow Jones Index dropped more than 24% from 39.90 to 30.02. It would mark the worst intraday sell-off in U.S. history at the time, a record that would stand until 1929.</p>\n<p>The&nbsp;Panic of 1893&nbsp;was triggered in part by falling gold reserves in the U.S. Treasury. At the time, the U.S. was on the gold standard, meaning U.S. dollars could be redeemed for physical gold. 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