October 24, 1929, the first major panic-selling day of the Wall Street Crash, became known as Black Thursday.
The trading session occurred on the New York Stock Exchange after a long period of speculation and rising share prices. The Dow Jones Industrial Average fell sharply, and trading volume reached a then-record level. A group of bankers attempted to restore confidence by buying heavily, which temporarily steadied prices.
The respite did not last. Selling intensified on October 28, known as Black Monday, and October 29, known as Black Tuesday. The crash continued over subsequent weeks, while the wider economic effects developed during the Great Depression. The crash itself did not single-handedly cause every feature of the Depression; banking failures, falling demand, debt, policy choices, and international financial problems also mattered. Black Thursday is therefore best understood as the first dramatic break in the final phase of the 1920s market boom, not as the entire crash in one day.