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Black Tuesday definition


Black Tuesday refers to October 29, 1929, when the United States stock market crashed, leading to the beginning of the Great Depression. It was the most devastating stock market crash in American history and resulted in billions of dollars lost and widespread unemployment. The crash occurred after a period of economic prosperity known as the "Roaring Twenties," which was fueled by easy credit and speculative investments. As stock prices continued to rise, investors borrowed money to buy stocks, assuming that prices would continue to climb. However, on Black Tuesday, shares of stock began to plummet, leading to a panic among investors who rushed to sell their stocks before they lost all their value. The crash had a ripple effect throughout the global economy, leading to financial crisis and economic hardship for millions of people.