The Wall Street Crash of 1929 began on October 24, 1929, a day known as Black Thursday.
After years of rising share prices and heavy speculation, investors became increasingly nervous in October. On October 24, unusually heavy selling overwhelmed the New York Stock Exchange. Major bankers attempted to restore confidence by buying selected shares, and prices temporarily stabilized. Selling returned the following week, however, with Black Monday on October 28 and Black Tuesday on October 29.
The crash did not by itself cause every feature of the Great Depression, but it badly damaged confidence, reduced wealth, and exposed weaknesses in the American financial system. The Dow Jones Industrial Average had peaked on September 3, 1929, before the autumn collapse. The market eventually fell far below its 1929 level, reaching its low in July 1932.
Black Thursday is sometimes confused with Black Tuesday, the later day associated with the largest volume of panic selling in the initial crash.