Black Tuesday(redirected from Wall Street Crash of 1929)
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The date of the third large stock market crash that presaged the Great Depression. While the Great Depression had already begun in some areas, Black Tuesday confirmed fears felt by investors that the end of the speculative bubble that had marked most investing in the 1920s had arrived. Black Tuesday occurred on October 29, 1929; on this day, the Dow Jones Industrial Average lost nearly 12% of its value after having lost almost 13% the previous day on Black Monday. The Great Depression contributed to the formation of most regulation still in force today. See also: Black Thursday.
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A widely used reference to October 29, 1929, the date of the greatest frenzy on the New York Stock Exchange during the Great Crash. Security prices plunged, volume surged to more than 16 million shares, and the ticker tape ran hours behind trading on the floor.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.