The Wall Street Crash of 1929 began on which October date, known as Black Thursday?
Answer
October 24, 1929
The Wall Street Crash of 1929 began on October 24, 1929, the day known as Black Thursday.
Heavy selling overwhelmed the New York Stock Exchange that Thursday after a period of rapidly rising share prices and widespread speculation. Major bankers attempted to calm investors by buying selected blue-chip stocks, but the temporary recovery did not end the crisis. Selling intensified again on October 28 and October 29, which became known as Black Monday and Black Tuesday.
The crash did not by itself create every condition of the Great Depression. Bank failures, falling production, unemployment, debt, and international economic policies all contributed to the prolonged downturn. The crash did, however, destroy enormous paper wealth and severely damage public confidence in financial markets.
A common mix-up is treating Black Thursday as the single day of the crash. The market’s collapse unfolded across several trading sessions, with October 29 often remembered as its most dramatic day.