October 29, 1929, was called Black Tuesday because U.S. stocks suffered a historic one-day collapse.
The Dow Jones Industrial Average fell 12.8% that day, following a 12.3% decline on Black Monday, October 28. Trading volume reached about 16 million shares, overwhelming the exchange’s systems and intensifying public panic.
The crash followed years of rapid stock buying, widespread use of borrowed money, and excessive optimism about economic growth. The collapse did not single-handedly cause the Great Depression, but it damaged confidence, reduced investment, and exposed serious weaknesses in banks and businesses.
Black Thursday, October 24, began the famous sequence, while Black Monday and Black Tuesday were the two most severe consecutive sessions. The Dow eventually lost almost 89% from its September 1929 peak to its July 1932 low.