Which 1929 U.S. trading day preceded Black Tuesday and saw heavy panic selling?

Black Thursday was the 1929 U.S. trading day that preceded Black Tuesday and saw heavy panic selling.

Black Thursday occurred on October 24, 1929. More than 12 million shares changed hands on the New York Stock Exchange, an exceptionally large volume for the period, and prices fell sharply during the morning session.

A group of leading bankers attempted to restore confidence by buying prominent stocks, and the market recovered much of the day’s loss before closing. That temporary relief did not end the crisis. Selling returned the following week, culminating in the even more severe Black Tuesday session on October 29.

The crash followed years of speculation, margin borrowing and rising share valuations. It was a major event in the onset of the Great Depression, but historians do not treat the crash alone as the sole cause of the worldwide economic collapse.