The first major panic day of the 1929 Wall Street Crash, on 24 October, was called Black Thursday.
The New York Stock Exchange experienced enormous selling pressure as investors rushed to exit shares bought during the speculative boom. Trading volume reached approximately 12.9 million shares, a record at the time. A consortium of bankers purchased shares to support prices, and the market finished above its intraday low.
That temporary recovery encouraged some observers to believe the crisis had passed. It had not. The Dow suffered much steeper declines on Black Monday, 28 October, and Black Tuesday, 29 October.
The crash later became closely associated with the Great Depression, but the economic catastrophe also reflected bank failures, falling demand, international debt problems, and weaknesses in the financial system.