The 1929 Wall Street Crash began with the New York Stock Exchange’s “Black Thursday” sell-off on October 24, 1929.
Trading volume surged as investors rushed to sell shares, and the Dow Jones Industrial Average fell sharply. A group of major bankers bought stocks to support prices, producing a temporary recovery, but the intervention did not end the crisis.
The crash is often associated most strongly with Black Tuesday, October 29, when approximately 16 million shares changed hands. Black Thursday came five days earlier and marked the first dramatic break in confidence. The market’s decline continued into November before a partial rebound.
The crash did not by itself cause the entire Great Depression, but it damaged wealth, confidence, and financial institutions. Other contributing factors included bank failures, falling industrial production, reduced consumer demand, and international debt problems.