Black Tuesday, the most famous day of the Wall Street Crash of 1929, occurred on Tuesday, October 29, 1929.
The day followed Black Thursday on October 24 and Black Monday on October 28. On Black Tuesday, about 16 million shares changed hands on the New York Stock Exchange, a record at the time, while stock prices fell sharply. The selling reflected fear, forced liquidation, and the collapse of confidence after a period of heavy speculation and margin borrowing.
The crash did not single-handedly create the entire Great Depression, but it became its best-known financial symbol. Bank failures, falling production, reduced consumer spending, international debt problems, and protectionist policies deepened the economic crisis during the 1930s.
A common mix-up is calling Black Tuesday the beginning of the crash. The market had already suffered major declines on the preceding Thursday and Monday. Black Tuesday is remembered because it marked the panic's most dramatic early trading session and gave the event its enduring name.