On what date did the U.S. stock market suffer “Black Tuesday” during the 1929 Wall Street Crash?
Answer
October 29, 1929
Black Tuesday, the most famous selling day of the 1929 Wall Street Crash, occurred on October 29, 1929.
The Dow Jones Industrial Average fell sharply as investors rushed to sell shares. The crash followed Black Thursday on October 24 and a brief attempted recovery during the next trading days. More than 16 million shares changed hands on October 29, a record at the time.
The collapse did not by itself cause the Great Depression, but it severely damaged confidence and exposed weaknesses created by speculation, buying on margin, unequal wealth distribution, and slowing economic activity. Banking failures and falling production deepened the subsequent depression.
A common mix-up is confusing Black Tuesday with Black Thursday. Black Thursday refers to October 24, while Black Tuesday refers to October 29, the later and more devastating trading day.