The Wall Street Crash of 1929 began in 1929.
The crash’s most dramatic phase unfolded in October 1929, after the New York Stock Exchange had already become highly speculative during the “Roaring Twenties.” The market peaked on September 3, then weakened as investors began questioning inflated share prices and the health of the wider economy.
Panic intensified on October 24, known as Black Thursday, and continued through October 28 and October 29. On Black Tuesday, October 29, roughly 16 million shares changed hands on the New York Stock Exchange, and the Dow Jones Industrial Average fell sharply.
The crash did not single-handedly create every condition of the Great Depression. Weakness in agriculture and industry, excessive speculation, margin buying, bank failures, and falling consumer demand also mattered. The market’s decline continued for years, reaching a major low in July 1932.