What date marked the 1929 U.S. stock-market panic commonly called Black Thursday?
Answer
October 24, 1929
October 24, 1929, marked the 1929 U.S. stock-market panic commonly called Black Thursday.
On that day, heavy selling hit the New York Stock Exchange and the Dow Jones Industrial Average fell sharply. A group of major bankers bought large quantities of blue-chip shares late in the session, temporarily calming the market and creating the impression that the panic had been contained.
The respite did not last. Selling intensified on October 28, known as Black Monday, and October 29, known as Black Tuesday. The market then continued to decline over the following weeks and did not reach its ultimate low until 1932.
The crash helped mark the beginning of the Great Depression, although economists distinguish the market collapse from the wider economic depression. The crash was influenced by speculation, margin buying, weakening economic conditions, and financial fragility.