Black Tuesday: The Wall Street Crash Deepens
On October 29, 1929, another wave of selling struck Wall Street.
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A Second Defining Date
On October 29, 1929, another wave of selling struck Wall Street. Black Tuesday followed the turmoil of Black Thursday and the sharp losses of the preceding Monday.
A Market Under Pressure
Large volumes of stock changed hands as confidence deteriorated. The event was a sequence of stressed trading sessions rather than one instantaneous collapse.
The Broader Financial Setting
Stock prices had risen strongly during the late 1920s. The crash exposed the fragility of expectations that prices and prosperity would continue without interruption.
Crash and Depression
The market decline became a symbol of the Great Depression. The longer economic crisis also involved banking, credit, employment and international conditions.
Avoid a Single-Cause Story
The historical question is not merely which day looked most dramatic. Separating market events from the wider downturn helps explain why a famous date is not a complete economic explanation.
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