What Actually Happened Immediately After Black Tuesday?

The younger crowd, and those in the older crowd who don’t remember high school history, might suspect that Black Tuesday was some sort of holiday-shopping event of yesteryear. Most people, however, recognize Black Tuesday—the day when the stock market crashed in 1929—as the start of the Great Depression. While the reality was not quite so simple and myths about the Great Depression abounded, there were multiple identifiable factors that led to the massive economic decline of the 1930s. October 29, 1929, stands out as such a clear and definitive beginning of the financial end.

 

To make a long story short, Black Tuesday occurred when the economic uncertainty that had been building through the Roaring ‘20s, with its excessive spending and over-crediting, came to a head. Black Tuesday was actually precipitated by Black Thursday on October 24, when several savvy investors sold their stocks, anticipating a crash in the market. This ended up being a self-fulfilling prophecy, as panicked investors saw this sudden dip in stocks and rushed to sell their own shares on Black Tuesday. This tanked the stock market immediately, and it set in motion a series of devastating effects that would alter the United States of America forever.

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