Black Tuesday was the 1929 U.S. stock-market crash day when panic selling produced record trading volume.
Black Tuesday occurred on October 29, 1929, at the New York Stock Exchange. Approximately 16 million shares changed hands, a record at the time, as investors rushed to sell. The Dow Jones Industrial Average fell sharply, extending the collapse that had begun the previous week.
The crash did not by itself cause every hardship of the Great Depression. Economic contraction, bank failures, falling production, debt problems, and international financial pressures also played major roles. The crash nevertheless became the Depression’s most famous financial symbol.
Black Tuesday is distinct from Black Thursday, October 24, when heavy selling first alarmed investors, and Black Monday, October 28, when the Dow suffered another major fall. The market continued declining after October 29 and reached a much lower point in 1932.