What date is known as Black Tuesday, the climax of the 1929 Wall Street stock-market crash?
Answer
October 29, 1929
October 29, 1929, is known as Black Tuesday, the climax of the 1929 Wall Street stock-market crash.
On Black Tuesday, investors traded roughly 16 million shares on the New York Stock Exchange as panic selling accelerated. The Dow Jones Industrial Average fell about 12%, following a 13% decline on Black Monday, October 28. The collapse ended the speculative boom that had driven US share prices to extraordinary levels during the 1920s.
The crash did not by itself cause the entire Great Depression, but it damaged confidence, weakened banks and businesses, and reduced investment. Industrial production, employment, and international trade later contracted sharply for additional reasons, including banking failures and falling demand.
Black Thursday, October 24, is another important date from the same episode: it marked the first major panic session. The market continued falling after Black Tuesday, reaching a major low in July 1932.