Black Tuesday was October 29, 1929, the day the Dow Jones Industrial Average suffered one of the most famous collapses in financial history.
The crash followed years of heavy speculation in U.S. shares. Investors increasingly bought stocks on margin, borrowing money to purchase securities. When prices began falling, forced selling accelerated the decline. Black Thursday, October 24, brought an earlier panic, while Black Monday and Black Tuesday produced even larger losses.
The crash did not by itself cause every problem associated with the Great Depression, but it severely damaged confidence and weakened banks, businesses, and households. A common mix-up is confusing Black Tuesday with Black Thursday: October 24 was the first major panic day, whereas October 29 became the crash's best-known date. The Dow eventually fell almost 89% from its 1929 peak to its 1932 low.