Which 1929 U.S. stock-market crash day is commonly called Black Tuesday?
Answer
October 29, 1929
Black Tuesday, October 29, 1929, was the most famous day of the Wall Street Crash of 1929.
On that Tuesday, about 16 million shares changed hands on the New York Stock Exchange, a record at the time. Prices fell sharply as investors rushed to sell, following heavy losses on Black Thursday, October 24, and Black Monday, October 28. The crash marked the dramatic collapse of a speculative boom in U.S. equities.
The crash did not by itself cause every aspect of the Great Depression. Bank failures, declining industrial production, falling international trade, debt problems, and policy decisions deepened the economic crisis. However, the destruction of wealth and confidence made the downturn more severe.
A common mix-up is treating Black Tuesday as the entire crash. It was one pivotal trading day within a longer decline that continued into 1932, when the Dow Jones Industrial Average reached its low for that bear market. Black Thursday is associated with the first major panic day, while Black Tuesday is associated with the largest trading volume and the symbolic climax.