The 1929 Wall Street Crash reached its Black Tuesday climax in October.
The key sequence began on October 24, 1929, known as Black Thursday. After a temporary attempt to restore confidence, selling intensified on October 28, Black Monday, and October 29, Black Tuesday. On Black Tuesday, approximately 16 million shares changed hands on the New York Stock Exchange, a record at the time.
October’s collapse came after the market had reached a peak in September 1929. The preceding boom encouraged speculation, and many buyers used borrowed money. When prices turned downward, margin calls required investors to provide cash or sell holdings. Those forced sales helped deepen the decline and spread fear through financial markets.
The crash did not instantly create every feature of the Great Depression. Industrial production, employment, banking stability, and international trade deteriorated over the following years. Still, the October collapse became the most famous symbol of the era’s economic breakdown and a lasting warning about leverage and speculative excess.