What was the name of the scandal that resulted in Nixon's resignation?
What was the name of the scandal that resulted in the resignation of President Nixon? The break-in at the Democratic National Committee headquarters in the Watergate office building in Washington, DC. The name is usually shortened to just Watergate. What if Nixon did not have a vice president upon his resignation?
What happened to Nixon’s watch?
The president gave an emotional farewell speech to White House staff. — -- On August 9, 1974, President Richard Nixon woke up with a start after a restless night. “I looked at my watch,” Nixon said years later. “The battery had run out, worn out, at 4 o’clock the last day I was in office. By that day, I was worn out too.”
What was the result of Nixon’s resignation Quizlet?
What was a result of Nixon’s resignation? One result was that Congress became majority Democratic in the 1974 election, and Democrat Jimmy Carter was elected in 1976, because the American people were fed up with Republican chicanery.
What did Nixon say the last day he was in office?
“The battery had run out, worn out, at 4 o’clock the last day I was in office. By that day, I was worn out too.” On this day, Nixon was to resign and hand over the presidency to Vice President Gerald Ford after the Watergate scandal left him facing impeachment.
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What caused the 1973 stock market crash?
The OPEC oil embargo of October 1973 and the Watergate scandal that led to President Nixon's resignation in August 1974 accelerated the declines. The long grind downward stoked investor pessimism about when stock prices might ever recover. Then, with little fanfare, they began climbing again in late 1974.
What happened to the stock market in the 1970s?
How did investors fare? Stock markets around the world were volatile in the 1970s. The S&P500 fell almost 40% during a bear market that lasted for most of 1973 and 1974, before rebounding over the next five years.
What caused the 1970 stock market crash?
The crash came after the collapse of the Bretton Woods system over the previous two years, with the associated 'Nixon Shock' and United States dollar devaluation under the Smithsonian Agreement. It was compounded by the outbreak of the 1973 oil crisis in October of that year.
What happened to the stock market after Pearl Harbor?
World War II When the attack on Pearl Harbor occurred, stocks fell 2.9% but regained those losses in one month. From 1939 until the end of the war in late 1945, the Dow saw increases of 50%, more than 7% per year.
What was the best investment in the 70s?
Gold was the best-performing asset in the 1970s, spiking more than 22%. Other commodities, such as energy and raw materials, also outperformed, rising 15%.
What happened to the stock market in 1971?
August 16th, 1971 – Nixon's announced freeze on wages, prices, and rents goes into effect. In response, a record volume on Wall Street as 31.7 million shares trade. Stock market soars as the Dow Jones Industrial Average rises 3.85%, or 32.93 points. 1970 saw inflation of nearly 7%, and 1971 saw inflation of nearly 6%.
What investments made money in the 70s?
The best asset to own in the 1970s was gold, which went from $35 an ounce at the beginning of the decade to as high as $850 by 1980. Investors sought a hard asset that could go toe-to-toe with inflation and hold its value over time, and the yellow metal fit the bill.
What happened to the stock market in 1969?
Inflation and interest rates jumped in 1969, and the stock market was down over 30% by midyear from its late 1968 peak as the Fed tightened sharply. The economy suffered a brief recession from December 1969 to November 1970, with unemployment rising to a benign 5.5%.
Who profited from the stock market crash of 1929?
The classic way to profit in a declining market is via a short sale — selling stock you've borrowed (e.g., from a broker) in hopes the price will drop, enabling you to buy cheaper shares to pay off the loan. One famous character who made money this way in the 1929 crash was speculator Jesse Lauriston Livermore.
What did the stock market do when Reagan was shot?
When President Ronald Reagan was shot on March 30, 1981, the stock markets were closed before they were given the opportunity to fall. During the days that followed the attempted assassination, the Dow rose over 7%.
What did the stock market do on December 7 1941?
December 7th, 1941 – At 7:48am local time, Pearl Harbor is attacked by Japan. The stock market was closed on the day of the attack, but it would open the next day, December 8th, when the Dow Jones Industrial Average would fall 3.49% to 112.53. Broader stock indexes fared worse, falling 4%+.
Are wars good for the stock market?
Key Takeaways. Though war and defense spending can amount to a sizable portion of the U.S. GDP, wars often have little sustained impact on stock markets or economic growth at home. Markets largely have ignored recent conflicts related to the Middle East and Iran.
What happened to the economy in 1973?
The economy was mired in recession as the Watergate scandal broke. (Source: FRED) Inflation, meanwhile, was running in the double-digits. Consumer prices rose 3.6% from the prior year in January 1973. One year later, inflation was running at 9.6% year-on-year; by November 1974, inflation was up 12% year-on-year.
What was the economic rate in 1973?
During this period, the economy was on its way into recession. After economic growth hit an annualized rate of 10.2% in the first quarter of 1973, economic growth rates hit -3.3% in the first quarter of 1974 as the economy entered a recession from which it did not emerge until the second quarter of 1975. The economy was mired in recession as the ...
Who did Trump ask to end the investigation into Michael Flynn?
Following The New York Times’ Tuesday evening report that President Donald Trump asked former FBI director James Comey to end an inquiry into ties former national security advisor Michael Flynn had to Russia, investors are wondering when the chaotic headlines coming from the White House will stop. Story continues.
What was the price of oil in 1974?
Stagflation gripped the economy during 1974-75. (Source: FRED) Oil prices, meanwhile, rose from $3.56 a gallon in January 1973 to $10.11 a year later as OPEC members imposed an oil embargo against the U.S. in response to U.S. involvement in the Arab-Israeli War.
When did Nixon say goodbye?
President Richard Nixon says an emotional farewell to members of his cabinet and staff in the East room of the White House, Aug. 9, 1974, before his departure after his resignation.
Why did Nixon create the Plumbers?
Nixon ordered the creation of the "plumbers" because he was convinced that the Pentagon Papers leak was just the beginning. — -- On August 9, 1974, President Richard Nixon woke up with a start after a restless night. “I looked at my watch,” Nixon said years later. “The battery had run out, worn out, at 4 o’clock the last day I was in office.
What did Richard Nixon say to Gannon?
Nixon told Gannon in the 1983 interview that his wife had boarded the helicopter first and then he followed. “ [I] turned around, and there were all the crowd out there on the lawn,” Nixon said to Gannon. “I kind of raised my hand. I didn’t know whether it was a salute or a wave, but that was it.
What did Nixon say in his farewell speech?
During his farewell speech, Nixon talked about his mother, “a saint”, he said, and sharing an inner pain. “Only when you have been in the deepest valley can you ever know how magnificent it is to be on the highest mountain,” he said. Nixon later told Gannon that he was speaking from the heart in that moment.
Who was the White House aide who interviewed Richard Nixon?
Nixon talked about his final hours in the White House during an interview his former aide, Frank Gannon, conducted in 1983. The Nixon Presidential Library began releasing portions of the Gannon interviews in August 2014 leading up to the 40th anniversary of Nixon’s resignation.
Who was the secretary of state that Nixon knocked on the door?
Nixon recounted to Gannon that in those final hours of his presidency, he still had a monumental, essential responsibility. Alexander Haig, who was then Nixon’s chief of staff and went on to become President Reagan ’s Secretary of State, knocked on the president’s door. “He brought one piece of paper. There was one line on it,” Nixon told Gannon.
Who was the daughter of Richard Nixon?
He said his other daughter Tricia later wrote in her diary “that for the first time, she was glad people were able to see Daddy as he really was.”. After his farewell speech, Nixon’s aide, Stephen Bull, said the president then went down to the Diplomatic Reception room to meet with then Vice President Gerald Ford.
