The 1929 U.S. market panic day when stocks fell sharply on October 24 was called Black Thursday.
Black Thursday marked the first major panic day of the Wall Street Crash of 1929. Heavy selling overwhelmed the New York Stock Exchange, and the Dow Jones Industrial Average fell 11 percent at the opening. A group of leading bankers later bought large blocks of shares to calm the market temporarily.
The intervention did not solve the deeper problems of speculation, margin debt, and weakening economic conditions. Selling returned with even greater force on the following Monday and Tuesday. The crash contributed to a prolonged economic contraction, although historians generally distinguish the market crash from the wider Great Depression.
Black Thursday is often confused with Black Monday and Black Tuesday, which occurred several days later. The names refer to separate trading days in the same 1929 sequence, so the date is essential when identifying the event.