Which date is known as Black Tuesday, the key panic day of the 1929 Wall Street Crash?
Answer
29 October 1929
Black Tuesday, the key panic day of the 1929 Wall Street Crash, occurred on 29 October 1929.
On that Tuesday, heavy selling overwhelmed the New York Stock Exchange. The Dow Jones Industrial Average fell about 12%, following major declines on Black Thursday, 24 October, and Black Monday, 28 October. The market’s collapse continued after the named October dates and did not reach its ultimate low until 1932.
The crash followed a speculative boom in the 1920s, when many investors bought shares with borrowed money. Falling prices forced leveraged investors to sell, while fear and shrinking confidence amplified the decline.
The crash did not by itself explain every feature of the Great Depression, but it became its most famous financial symbol. Another common error is calling 24 October Black Tuesday; that date is generally called Black Thursday.