Black Tuesday saw the largest number of shares traded at that time during the 1929 Wall Street Crash.
Black Tuesday was October 29, 1929, when roughly 16 million shares changed hands on the New York Stock Exchange. The enormous volume reflected panic selling after several days of severe declines. The Dow Jones Industrial Average fell about 12 percent that day, following a drop of nearly 13 percent on Black Monday.
The crash followed years of rising share prices, widespread speculation, and extensive buying on margin. Investors who had borrowed money to purchase shares faced demands for additional cash when prices fell. Forced selling intensified the downward movement.
The crash is closely associated with the beginning of the Great Depression, but the economic collapse was not caused by one day alone. Banking failures, declining industrial production, reduced international trade, debt problems, and policy choices all contributed to the prolonged downturn. The New York Stock Exchange’s trading volume on Black Tuesday was a record until 1968, when daily volume finally exceeded it.