The 1929 Wall Street Crash reached its most famous collapse on October 29, 1929, known as Black Tuesday.
On that day, roughly 16 million shares changed hands on the New York Stock Exchange, setting a trading-volume record at the time. Prices fell sharply after earlier panic selling on Black Thursday and a temporary rebound associated with Black Monday.
The crash followed years of rising share prices, widespread speculation, and purchases made with borrowed money. As confidence weakened, investors rushed to sell, and margin calls forced additional liquidation. The crash was a major event in the wider economic crisis that became the Great Depression.
Black Tuesday was not the only decisive day of the collapse, and the economic downturn had multiple causes. Industrial contraction, banking failures, reduced consumer demand, and international financial problems also deepened the depression that followed.