October Effect – level 1
The October Effect is a theory. This theory says that dramatic economic events happen in October.
It is true that many bad economic events in the past happen in October. The New York Stock Exchange falls in October 1907. One of the worst economic events in the world’s history happens in October 1929. It starts in Wall Street in the USA. People call this day Black Thursday. It makes changes in the whole world. Similar things happen in October 1987.
It is not a surprise that people believe the October Effect. Some businessmen do not like October. However, many bad events happen in other months, too.
Difficult words: theory (an idea that explains some facts or events), economic (connected with money and business), stock exchange (a place where people do business with companies).
You can watch the original video in the Level 3 section.
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