Which stock-market crash began on October 24, 1929, with a historic New York trading frenzy?

The Wall Street Crash of 1929 began its most dramatic phase on October 24, 1929, during Black Thursday.

Heavy selling overwhelmed the New York Stock Exchange. Major bankers attempted to restore confidence by purchasing leading stocks, and prices temporarily stabilized. The relief did not last: further collapses followed on Black Monday and Black Tuesday.

The market had risen rapidly during the 1920s, supported by speculation, buying on margin, expanding credit, and optimistic expectations about corporate growth. When prices began falling, leveraged investors faced demands for additional cash and were forced to sell.

The crash is closely associated with the Great Depression, but historians distinguish the financial collapse from the broader economic depression. Bank failures, deflation, unemployment, international debt problems, and reduced production all contributed to the depression’s depth and duration.