Black Tuesday, the day the 1929 Wall Street Crash suffered its worst point collapse, occurred on October 29, 1929.
Around 16 million shares changed hands on the New York Stock Exchange, a record at the time. Prices plunged as investors rushed to sell, following earlier panic on Black Thursday, October 24, and Black Monday, October 28. The market’s decline continued after Black Tuesday rather than ending immediately.
The crash followed years of rapid speculation and widespread buying on margin. Investors often borrowed heavily to purchase shares, so falling prices created demands for additional cash and forced more sales. The crash was a major event in the economic crisis that became the Great Depression.
Black Tuesday is sometimes confused with Black Thursday, the first dramatic panic day of the same episode. Black Tuesday identifies October 29 specifically, when the selling volume and price damage became especially severe.