On October 29, 1929, the stock market experienced a significant crash, known as "Black Tuesday," which marked the beginning of the Great Depression
. The Dow Jones Industrial Average (DJIA) fell 12%, one of the largest one-day drops in stock market history, with more than 16 million shares traded in a panic sell-off
. This event was fueled by several factors, including too much debt used to buy stocks, global protectionist policies, and slowing economic growth
. Key events leading up to Black Tuesday include:
- Black Monday (October 28, 1929) : The market closed down 12.8% due to a record loss in the Dow for the day of 38.33 points
- Black Thursday (October 24, 1929) : The market lost 11% of its value at the opening bell on very heavy trading, with the huge volume causing a report of prices on the ticker tape in brokerage offices around the country
The stock market crash of 1929 led to far-reaching consequences on America's economic system and trade policy
. The Dow Jones Industrial Average did not return to its pre-crash heights until November 1954
. The event signaled the end of a period of post-World War I economic expansion and the beginning of a long economic downturn that lasted until the beginning of World War II
