October 29, 1929, was known as Black Tuesday, the most infamous trading day of the Wall Street Crash of 1929.
On Black Tuesday, approximately 16 million shares changed hands on the New York Stock Exchange, a record at the time. The Dow Jones Industrial Average fell 12.8%, following a 12.3% decline on Black Monday, October 28.
The crash did not cause the Great Depression by itself, but it badly damaged confidence and coincided with falling production, bank failures, debt problems, and unemployment. The market had already begun declining after reaching a peak in September 1929.
Black Thursday, October 24, was the first major panic day of the crash, while Black Tuesday marked the dramatic final capitulation. The Dow continued losing value after October 29 and did not regain its 1929 peak until 1954.