The Wall Street Crash began in 1929, culminating in Black Tuesday on October 29.
The crash followed a decade of rapid economic growth, rising stock prices, and widespread speculation in the United States. Many investors bought shares on margin, borrowing money to increase their exposure. When prices began falling in October, forced selling intensified the decline.
Black Thursday occurred on October 24, 1929, and Black Monday followed on October 28. The largest panic day was Black Tuesday, October 29, when about 16 million shares changed hands on the New York Stock Exchange. The market continued falling afterward rather than recovering immediately.
The crash did not single-handedly cause the Great Depression, but it severely damaged confidence, reduced wealth, and weakened banks and businesses. The Dow Jones Industrial Average eventually lost almost 89% from its 1929 peak to its 1932 low. The crash is often confused with the entire Depression, which lasted much longer.