The second major crash day of the 1929 New York market collapse, October 29, was called Black Tuesday.
Heavy selling overwhelmed the New York Stock Exchange as investors rushed to exit positions after earlier declines. About 16 million shares changed hands, a record at the time, and the Dow Jones Industrial Average fell roughly 12%. The day became the most famous symbol of the Wall Street Crash of 1929.
Black Tuesday did not by itself cause the Great Depression. The economic depression developed through a combination of factors, including bank failures, falling demand, debt problems, reduced investment, and policy responses. The crash nevertheless severely damaged confidence and wealth.
The date is often confused with Black Thursday, October 24, the first dramatic selling day of that episode. Black Monday is the standard name for the separate worldwide crash of October 19, 1987.