In the midst of a 14-day stock market surge, New York’s financial district was rocked by a sudden and disturbing shift in trading activity on April 5, 1913. It began with a massive sell-off of Union Pacific and Amalgamated Copper stocks, which plummeted a point lower as investors scrambled to offload their shares. Can Cotton Oil, Rumely, and Canadian Pacific followed suit, each dropping one to two points in value. The once-thriving market had turned treacherous, with prices sliding steadily from the opening bell.
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Key Facts
- State: National
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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