What event is also known as Black Tuesday?

The Wall Street Crash of 1929, commonly referred to as Black Tuesday, occurred on October 29, 1929. This event is a significant moment in U.S. history as it marked the beginning of the Great Depression. On that day, stock prices plummeted dramatically, leading to widespread financial panic and loss of savings for countless investors. The crash resulted from a combination of speculative investing, economic factors, and a lack of regulatory oversight, which had created an unsustainable stock market bubble. The aftermath of Black Tuesday had long-lasting effects on the U.S. economy, contributing to high unemployment rates and widespread business failures throughout the 1930s. Recognizing Black Tuesday is crucial to understanding the events that precipitated the Great Depression and the major shifts in economic policy that followed.