Austria declared war on Servia on 28 July, Russia began to mobilize during the evening of 28 July, and the world waited anxiously to see if Germany would begin mobilization. As more countries got involved in the conflict, the Stock Markets became more strained. On 29 July, Stock markets in Liverpool, St. Petersburg, and Amsterdam closed until further notice.
(“Mobilization of Russian Troops Diminishes Chances of Maintaining Peace,” Berlin Daily Telegraph, 29 July 1914; “Bottom out of Stocks,” Berlin Daily Telegraph, 29 July 1914)
