Black Tuesday was the 1929 trading day famous for record trading volume of about 16 million shares on the New York Stock Exchange.
Black Tuesday occurred on October 29, 1929, immediately after Black Monday. Investors rushed to sell shares as confidence collapsed, and the exchange recorded approximately 16 million shares traded. The Dow Jones Industrial Average fell 11.73% that day, extending the severe decline that had begun the previous week.
The crash followed a long period of rising prices, widespread speculation, and purchases made with borrowed money. When prices turned down, margin calls forced more selling. The collapse became an enduring symbol of the start of the Great Depression, although the economic depression developed through many interacting causes rather than one trading session alone.
Black Tuesday is often confused with Black Thursday, October 24, when unusually heavy selling first attracted worldwide attention. Black Monday, October 28, was the preceding session with the larger percentage fall.