On what date did Black Tuesday, the sharpest one-day fall of the 1929 Wall Street Crash, occur?
Answer
October 29, 1929
Black Tuesday, the sharpest one-day fall of the 1929 Wall Street Crash, occurred on October 29, 1929.
On that Tuesday, investors traded roughly 16 million shares on the New York Stock Exchange, a record at the time. Prices plunged as widespread selling overwhelmed buyers. The Dow Jones Industrial Average fell about 12%, following major declines on Black Thursday, October 24, and Black Monday, October 28.
The crash did not by itself create the entire Great Depression, which also involved banking failures, reduced demand, monetary policy, and international economic problems. However, it severely damaged confidence and helped accelerate the downturn in the United States and abroad.
A common mix-up is treating Black Tuesday as the beginning of the crash. The major selling began on October 24, while October 29 was the most famous and devastating day of the episode.