Which day was called Black Thursday during the Wall Street Crash of 1929?
Answer
October 24, 1929
Black Thursday during the Wall Street Crash of 1929 was October 24, 1929.
On that Thursday, trading on the New York Stock Exchange became extremely volatile and prices fell sharply. A group of major bankers met and purchased large amounts of leading stocks in an effort to restore confidence. The intervention temporarily steadied the market, but it did not end the underlying panic.
The crash continued the following week. October 28 became known as Black Monday, while October 29 became Black Tuesday, the most famous day of the collapse. The Dow Jones Industrial Average lost about 12 percent on Black Tuesday, although the crash unfolded over several trading sessions rather than one isolated day.
The 1929 crash did not by itself cause the entire Great Depression, but it damaged confidence and reduced wealth. Bank failures, falling investment, weak demand, and other economic problems deepened the downturn afterward.