Black Tuesday 1929
Stock Market History
What was Black Tuesday October 29, 1929? What caused the great depression stock market crash? About the worst day of the worst crash in stock market history.
What is Black Tuesday?
Tuesday, October 29, 1929 is the day most closely associated with the great depression
stock market crash of 1929.
Of course, stock market crashes do not happen on one day. A market crash is a process which can unfold over several days, weeks, months, or even years.The market crash of 1929 was no different. The Dow actually peaked at 381.17 on September 3rd and proceeded to lose 17% of its value over the next month. The DJI then regained half of its losses in a week-long rally before reversing again. Black Tuesday is considered by many to be the day of the great stock market crash because it was a record setting day in
stock market history.
Sixteen million shares traded that day. More than on any single trading day prior to October 29, 1929. This volume record stood until 1968. $14 billion in value was lost in the U.S. markets that day. The Dow Jones Industrial Average fell 11.73%. These single session losses (of both October 29 and October 28 when the DJI lost 12.82%) were not exceeded until the Black Monday
stock market crash of 1987
when the Dow fell 22.6%.
What Caused Black Tuesday?
The 1929 stock market crash came at the end of a 6 year bull market in which the DJI increased fivefold. The market was certainly overvalued.But there was more at play. The Smoot-Hawley Tarrif Act which proposed to raise the tax levels (from 13.5%-19.8%) on more than 20,000 imported products was before Congress. A rumor was circulating that President Herbert Hoover was not going to veto it. Investors feared this bill. As it turned out, the Tariff Act of 1930 did pass. The new higher tarrifs reduced imports by more than half. But the retalitory taxes imposed on us by our trading partners reduced American exports by the same amount. Congress had intended to protect American jobs and, at first, this seemed to work. But ultimately the contraction of international trade caused by the higher tarrifs brought about job losses. The U.S. unemployment rate was 7.8% before the Tarrif Act of 1930 passed. It rose to 16.3% in 1931 and went on to peak at 25.1% in 1933. In 1932, Senators Smoot and Hawley were defeated for reelection largely because of their controversial bill.
Black Thursday in Stock Market History
Black Thursday 1929 in stock market history. Great depression stock market crash of 1929. The day the worst crash in the history of the stock market began.
Black Monday Stock Market Crash
Black Monday stock market crash 1987 facts. October 19, 1987 was the worst day in the history of the stock market since the Black Tuesday October 29, 1929 stock market crash.
1929 Stock Market Crash Chart
This 1929 stock market crash chart shows the 20 day moving average technical analysis indicator crossing beneath the 50 day EMA and giving a clear sell signal.
Stock Market History Graph
This stock market history graph is a 100 year chart of the Dow. The 25 year moving average included on this chart will help investors in making predictions of future market performance.
Stock Market for Beginners
Stock Market Basics
covered rules 1-4. Stock Market For Beginners continues with rules 5-8. This is not a complete education but offers stock market trading tips to help you lean how to trade stock.
Return to Stock Market Crashes
The stock market crashes of 1929, 1987 and 2007. Black Monday 1987. Black Tuesday 1929. Black Thursday. 1929 crash chart.
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