The 1929 U.S. stock-market crash day when panic selling began after a record trading session was called Black Thursday.
Black Thursday was 24 October 1929, when heavy selling hit the New York Stock Exchange. Trading volume reached a then-record level, and the Dow Jones Industrial Average fell sharply during the session. A group of major bankers later bought blue-chip shares in an effort to restore confidence, and the market recovered much of its intraday loss before closing.
The intervention did not end the crash. Selling returned on the following Monday, 28 October, and intensified on Tuesday, 29 October, the day widely known as Black Tuesday. The Dow continued declining over the next several years and eventually reached its low in July 1932.
The crash did not single-handedly cause the Great Depression. It exposed excessive speculation and weakened confidence, while banking failures, reduced spending, monetary conditions, and international economic problems also played important roles. The names of the October days are often mixed up, but Black Thursday specifically identifies the opening panic day.