Stock market disaster is the abbreviation of stock market disaster or stock market disaster. It refers to the abnormal economic phenomenon that when the internal contradictions in the stock market accumulate to a certain extent, due to the influence of an accidental factor, the stock price suddenly collapses, causing great social and economic turmoil and huge losses.

The stock market crash is different from the general stock market fluctuation and the general stock market risk. Generally speaking, the stock market crash has the following characteristics: occurrence. Almost every stock market crash has a sudden plunge stage. Destructive. The stock market crash did not destroy a millionaire, a securities company or a bank, but affected the economy of a country and even the world, making the stock market lose all its functions. The economic loss caused by the stock market crash far exceeds the economic loss caused by fire, flood or strong earthquake, even as much as the economic loss caused by a world war. Linkage. First of all, under the linkage of economic chain, the stock market crash will aggravate the financial and economic crisis. Second, regional linkage, some big stock market crashes, will lead to regional or global stock market crashes. Uncertainty. The stock market crash is characterized by a sharp drop in the stock market value, which makes a large part of the funds injected into the stock market go up in smoke; The stock market crash will aggravate the economic recession and the bankruptcy of industrial and commercial enterprises, which will also indirectly affect banks and increase their non-performing assets. In countries and regions where the stock market is internationalized, the stock market crash will lead to the reduction of investment opportunities in the stock market, which will lead to capital outflow and currency depreciation, which will have an impact on the financial market. In short, the stock market crash will lead to financial market turmoil in many ways, triggering or aggravating the financial crisis. For example, in 1929, the financial market was the first to be affected. The number of bankruptcies in the United States increased from 65438+659 in 0929 to 2294 in 193 1 year, which caused the whole financial market to be in an extremely chaotic state. The stock market crash has a great impact on economic development. The stock market is a barometer of the national economy, and the occurrence of stock market crash is often the beginning of economic recession. The stock market crash has led people to be extremely pessimistic about the economic prospects, leading to a sharp drop in investment, a decline in total social demand, a stagnation in production, a decrease in national income and a vicious circle in the economy. 1929 The global economic crisis triggered by the stock market crash is a typical example. American private investment decreased from 1929 to16 billion dollars to 1933 to 340 million dollars, industrial production ratio decreased by 50%, and national income decreased from 1929 dollars to 1939 dollars. Affected by the American economic crisis, the world economic crisis broke out again, and economically developed countries such as Britain, France and Germany all fell into serious economic difficulties.