Which day in 1929 is known as Black Tuesday because of the New York stock-market collapse?
Answer
October 29, 1929
Black Tuesday, the day associated with the 1929 New York stock-market collapse, occurred on October 29, 1929.
More than 16 million shares changed hands on the New York Stock Exchange that day, a record at the time. Prices fell sharply as investors rushed to sell, following major declines on Black Thursday, October 24, and Black Monday, October 28. The selling reflected weakening confidence after years of heavy speculation and buying with borrowed money.
Black Tuesday did not cause the entire Great Depression by itself. The economic downturn involved declining production, bank failures, falling prices, unemployment, and international financial problems. However, the crash became its best-known financial symbol and intensified fear throughout the economy.
Black Tuesday is often mixed up with Black Thursday, the first major panic day in the October 1929 sequence. The dates describe separate sessions, and the market continued to fall after October 29 before eventually reaching a low in 1932.