Black Tuesday (1929) Law and Legal Definition

Black Tuesday denotes the Wall Street Crash of October 29, 1929. It is also known as the Great Crash. It is on that day, the stock market crashed which initiated the Great Depression. The optimism and financial gains of the great bull market of roaring twenties were shattered on "Black Tuesday", October 29, 1929. The share prices on the New York Stock Exchange (NYSE) collapsed. Stock prices plummeted on that day, and continued to fall at an unprecedented rate for a full month.