October 29, 1929, is known as Black Tuesday, the day panic selling intensified the Wall Street Crash.
The New York Stock Exchange saw about 16 million shares traded that day, a record at the time. Prices plunged as investors rushed to sell, following severe losses on Black Thursday, October 24, and Black Monday, October 28.
Black Tuesday did not single-handedly cause the Great Depression. The crash exposed financial weaknesses, including widespread speculation, purchases made on margin, and fragile banks. The economic downturn deepened afterward through falling production, unemployment, and banking failures.
A common mix-up is calling October 29 “Black Monday.” In the 1929 crash, Black Monday refers to October 28, while Black Tuesday refers specifically to October 29. The crash unfolded over several trading sessions rather than one isolated day.