October 29, 1929, is known as Black Tuesday, the day enormous selling struck the New York Stock Exchange.
Black Tuesday followed Black Thursday on October 24 and Black Monday on October 28. On October 29, about 16 million shares changed hands, a record at the time, as investors rushed to sell. The Dow Jones Industrial Average fell roughly 12 percent that day.
The crash did not by itself create every condition of the Great Depression, but it intensified the financial and economic downturn. Falling share prices damaged confidence, reduced wealth, and contributed to pressure on banks, businesses, and consumers. The US economy continued weakening for several years afterward.
Black Tuesday is often treated as the symbolic climax of the 1929 Wall Street Crash. It is distinct from Black Monday in 1929, which occurred one trading day earlier, and from Black Monday in 1987, whose percentage decline was much larger.