What Does Stock Market Crash Of 1929 Mean?
A severe downturn in equity prices that occurred in October of 1929 in the United States, and which marked the end of the “Roaring Twenties.” The crash of 1929 did not occur in one day, but was spread out over a two-week period beginning in mid-October. The first portion of the crash occurred on October 24, a day known as Black Thursday. The following week brought Black Monday (Oct. 28) and Black Tuesday (Oct. 29) – the Dow Jones Industrial Average fell more than 20% over those two days. Pre-existing selling pressures and fear in the stock market were exasperated by a flood of sell orders that shut down the ticker-tape service that provided stock prices to traders. With key information missing from the markets, selling intensified even further. Despite a few attempts at recovery, the stock market continued to languish, eventually falling almost 90% from its peak in 1929.
