Black Tuesday, 29 October 1929, is commonly identified as the climax of the Wall Street Crash.
On that day, about 16 million shares changed hands on the New York Stock Exchange, a record at the time, while the Dow Jones Industrial Average fell 12%. The selling followed sharp declines on Black Thursday and Black Monday.
The crash emerged after years of rising share prices, widespread speculation, and buying stocks with borrowed money. The market continued falling after Black Tuesday, reaching a major low in July 1932. The crash was a crucial financial event of the Great Depression, but historians generally describe the Depression as having multiple causes.