On Black Thursday, October 24, investors and stock brokers began to panic. They bought many stocks, hoping to balance the market. However, although market equilibrium was many people's intention, this has not been the case. On Black Tuesday, October 25, stock prices completely collapsed and billions of dollars were lost. The stock market crash of 1929 led to numerous bank failures. These banks failed because the stock market crash of 1929 caused many people to become indebted and poor. People had neither money to repay the banks nor money to deposit in the banks. All the money left in the banks was withdrawn because people were afraid of losing it, just as others lost all their money because of the stock market crash. By 1933, 11,000 of America's 25,000 banks had closed and no longer existed..