The New York market’s largest one-day share-volume surge during the October 1929 crash occurred on Black Tuesday.
Black Tuesday was October 29, 1929, when heavy selling overwhelmed the New York Stock Exchange. About 16 million shares changed hands, a record at the time, and the Dow Jones Industrial Average fell by roughly 12 percent. The session followed Black Thursday and Black Monday, two earlier days of severe turmoil.
The 1929 crash did not single-handedly cause the Great Depression, but it damaged confidence, reduced household wealth, and contributed to a broader contraction. Banks, businesses, and investors were already vulnerable because of speculation, margin borrowing, uneven economic conditions, and weaknesses in the financial system.
The market continued to decline after October 29 and reached its major low in July 1932. Black Tuesday is therefore a specific day within a longer market collapse, rather than the name of the entire Depression-era downturn.