What caused the stock market crash of 1920?

The Stock Market crash of 1920 was primarily triggered by a combination of factors including post-World War I economic adjustments, deflation, and speculative investments that had inflated stock prices. The end of wartime production led to a sharp decline in demand, causing prices to drop and investor confidence to wane. Additionally, rising interest rates aimed at controlling inflation exacerbated the situation, leading to widespread panic selling and a significant market downturn.