Black Tuesday was October 29, 1929, when the Dow Jones Industrial Average lost nearly 12% after heavy selling.
About 16 million shares changed hands on the New York Stock Exchange, a record at the time. The Dow fell 30.57 points, or 11.7%, and the selling followed major declines on Black Thursday and Black Monday. These sessions together marked the collapse of the speculative boom of the late 1920s.
The crash did not by itself cause every feature of the Great Depression. Falling investment, bank failures, shrinking demand, debt problems, and policy decisions all contributed to the prolonged economic contraction. The crash did, however, destroy confidence and sharply reduce the wealth of many investors.
Black Tuesday is often treated as the single emblematic date of the 1929 Wall Street crash. It should not be confused with Black Thursday, October 24, or Black Monday, October 28. The labels describe separate trading days within the same market crisis.