October 29, 1929, the second major selling day of the Wall Street Crash, is known as Black Tuesday.
Black Tuesday followed Black Thursday, October 24, when heavy selling first caused widespread alarm on the New York Stock Exchange. After a brief recovery attempt, prices fell sharply again on October 28 and October 29. Investors rushed to sell shares, and trading volume reached a record for that era.
The crash did not by itself create the entire Great Depression, but it damaged confidence and weakened banks, businesses, and investors. Falling share prices reduced wealth, while bank failures and declining production deepened the economic downturn. The crash is often described as a sequence of dramatic trading days rather than one isolated event.
A common mix-up is confusing Black Tuesday with Black Thursday. Black Thursday came first, while Black Tuesday marked the later and more severe selling wave.