On what date did “Black Tuesday,” the fourth day of the 1929 Wall Street Crash, occur?
Answer
October 29, 1929
Black Tuesday, the fourth day of the 1929 Wall Street Crash, occurred on October 29, 1929.
The New York Stock Exchange experienced extraordinary selling as investors rushed to dispose of shares. Around 16 million shares changed hands, a trading volume record at the time. Prices fell sharply, extending the losses that had begun on Black Thursday, October 24.
The crash did not single-handedly cause the Great Depression, but it severely damaged confidence and wealth. Bank failures, reduced lending, falling production, and rising unemployment followed during the early 1930s. The economic downturn developed through several interacting causes rather than one trading session alone.
Black Tuesday is often confused with Black Thursday, the first dramatic day of the crash. Black Monday and Black Tuesday are also names associated with the October 1987 crash, so the year is essential when identifying this event.