Black Tuesday, the day of the largest point loss during the 1929 Wall Street Crash, was October 29, 1929.
On that day, roughly 16 million shares changed hands on the New York Stock Exchange, overwhelming the trading system of the era. Prices plunged as investors rushed to sell, following severe declines on Black Thursday and Black Monday.
The crash followed years of speculation, easy credit, and heavy buying of shares on margin. Many purchasers had borrowed money to buy stock, so falling prices created demands for additional cash and forced further selling.
The crash did not by itself cause every aspect of the Great Depression, but it became its most famous financial symbol. Bank failures, falling production, unemployment, and international economic problems deepened during the following years. Black Tuesday is distinct from Black Thursday, October 24, the first major panic day.