What was the nickname of the 1929 U.S. stock-market crash’s worst trading day?
Answer
Black Tuesday
Black Tuesday was the nickname for October 29, 1929, the worst trading day of the 1929 U.S. stock-market crash.
About 16 million shares changed hands on the New York Stock Exchange, a record at the time. The Dow Jones Industrial Average fell nearly 12%, following major declines on Black Thursday, October 24, and Black Monday, October 28.
The crash followed years of rapid speculation, extensive buying on margin, rising stock valuations, and concerns about economic weakness. It did not single-handedly cause the Great Depression, but it severely damaged confidence and exposed financial vulnerabilities.
Black Tuesday is sometimes used as if it names the entire crash, but technically it identifies the October 29 session. The market continued falling after that date, and the Dow did not recover its September 1929 peak until 1954.