what date did the stock market crash in 1929

Wall Street Crash of 1929 (Stock Market Crash of 1929)

Asking "what date did the stock market crash in 1929" pinpoints a sequence of severe U.S. market collapses that culminated in late October 1929 and helped trigger the Great Depression. The events most commonly associated with the crash are Black Thursday (October 24, 1929), Black Monday (October 28, 1929) and especially Black Tuesday (October 29, 1929), with the Dow Jones Industrial Average (DJIA) having earlier peaked in early September 1929. As of 2026-01-15, Federal Reserve History and major historical references identify October 24–29, 1929 as the critical collapse days.

Summary / Key facts

• The question "what date did the stock market crash in 1929" usually refers to the cluster of crash days in late October 1929, especially October 29, 1929 (Black Tuesday).
• DJIA peak: early September 1929 (commonly cited closing high: 381.17 on September 3, 1929).
• Major decline period: late October 1929; DJIA reached a trough in July 1932 (about 41.22 on July 8, 1932).
• Record trading volumes: Black Thursday and Black Tuesday saw multi‑million share days (Black Tuesday ~16 million shares traded).
• Immediate market drops: late‑October 1929 produced double‑digit percentage falls on consecutive days (Oct 28 and Oct 29 were among the largest single‑day percentage losses in that era).

Background

The late 1920s U.S. economy — the "Roaring Twenties" — featured rapid stock market growth, broader public participation in equities, and rising use of margin and leverage. Speculative buying, investment trusts that concentrated capital, and call loans (broker credit) amplified price movements. Meanwhile, structural weaknesses such as agricultural distress, uneven income distribution, and weakening foreign trade made the broader economy vulnerable to a financial shock.

Timeline of events

Peak and prelude (1928–September 1929)

During 1928–1929 stock prices rose rapidly. By early September 1929 the DJIA reached its then‑record high. Many investors were buying on margin (borrowing to buy stocks), and valuation metrics showed widespread overvaluation by historical standards. Warnings and partial profit‑taking occurred, but the market's elevated level left it exposed to any loss of confidence.

Early declines (September–October 1929)

In September 1929 prices began to stall and decline as some investors reduced positions. Margin calls increased selling pressure. These early drops weakened sentiment and set the stage for the catastrophic October sequence.

Black Thursday — October 24, 1929

Black Thursday opened with heavy selling and very high trading volume. Panic gripped parts of the market; institutional bankers organized purchases to support prices and temporarily slowed the slide. Despite these efforts, the day signaled a dramatic change in market psychology. Many contemporaries later cited October 24 as the day confidence first shattered.

Black Monday — October 28, 1929

Selling resumed and intensified on October 28, producing one of the largest single‑day percentage declines of the period. Margin hunters and forced liquidations further magnified losses, and nervous investors rushed to exit positions.

Black Tuesday — October 29, 1929

Black Tuesday is often named the defining crash date. On October 29, 1929, unprecedented trading volume (roughly 16 million shares exchanged on the New York Stock Exchange) and panic selling produced a severe market collapse that erased large portions of market capitalization. For many observers, when asked "what date did the stock market crash in 1929," Black Tuesday is the immediate answer.

Immediate aftermath (November 1929–1930)

After October 1929 the market saw continued volatility and a prolonged decline into the early 1930s. Boxed‑in by weak demand, credit contraction, and faltering production, the economy and financial system moved toward the deeper downturn known as the Great Depression.

Causes

Multiple factors contributed to the crash and its severity:

• Rampant speculation and widespread margin buying raised vulnerability to margin calls and forced sales.
• Excessive leverage in investment trusts and broker call loans amplified market moves.
• Monetary and banking conditions tightened credit availability in the following years; historians debate the timing and degree of Federal Reserve policy responsibility.
• Real economy imbalances (overproduction in key industries, agricultural distress, and unequal income distribution) limited absorbent demand for goods and profits.
• Structural fragilities in banking and corporate finance increased the potential for cascading failures once confidence eroded.

Market mechanics and statistics

Key market metrics help explain how the crash unfolded. The DJIA peaked in early September 1929 (commonly cited closing high 381.17 on September 3). On Oct 28 and Oct 29, 1929 the index suffered double‑digit percentage falls in consecutive sessions (contemporary estimates put Oct 28 around a 12.8% drop and Oct 29 roughly 11–13% depending on the data series). Trading volumes were extraordinary for the time — Black Thursday recorded very heavy volume, and Black Tuesday saw roughly 16 million shares traded on the NYSE, a record then. Margin calls and forced liquidations created feedback loops that worsened price declines.

Economic and social consequences

The October 1929 market collapses accelerated a broader contraction. Bank failures and business bankruptcies rose, unemployment climbed sharply, and many households lost savings. The crash did not alone create the Great Depression, but it contributed to a loss of confidence that, combined with economic imbalances and policy reactions, produced a prolonged and severe downturn with deep social impacts.

Policy responses and regulatory reform

The U.S. responded in the 1930s with substantial financial reforms and institutions to reduce systemic risk and protect investors. Important measures included emergency credit and banking responses, the Banking Act of 1933 (Glass–Steagall), the Securities Act of 1933, and the Securities Exchange Act of 1934, which created the U.S. Securities and Exchange Commission (SEC). These reforms aimed to limit excessive leverage, improve disclosure, and create regulatory oversight to reduce the chance of another market collapse of comparable scale.

Debate and historiography

Scholars still debate the crash's precise role: whether it was the proximate cause that plunged the economy into depression or a prominent symptom of deeper economic weaknesses. Historians examine monetary policy choices, international economic linkages, structural imbalances, and financial market mechanics to explain the magnitude and duration of the downturn.

Legacy

The 1929 crash reshaped how markets are regulated and remembered. It led to new investor protections, institutional reforms, and cultural memory that informs modern risk management and crisis policy. The DJIA’s full recovery in nominal terms took many years, and the crash remains a cautionary benchmark for bubbles, leverage, and systemic fragility.

Key dates (concise list)

• September 3, 1929 — DJIA peak (commonly cited closing high ~381.17).
• October 24, 1929 — Black Thursday (initial panic; record trading volume for the era).
• October 28, 1929 — Black Monday (large renewed drop, double‑digit percentage move).
• October 29, 1929 — Black Tuesday (record volume ~16 million shares; severe collapse).
• July 8, 1932 — Market low (DJIA trough at about 41.22).

See also

• Great Depression
• Dow Jones Industrial Average
• Banking Act of 1933 (Glass–Steagall)
• Securities and Exchange Commission (SEC)
• Margin trading
• Financial panics

References and further reading

As of 2026-01-15, the following authoritative sources were consulted:

• Federal Reserve History — "Stock Market Crash of 1929" (Federal Reserve History).
• Wikipedia — "Wall Street crash of 1929" (Wikipedia entry summarizing dates and context).
• Britannica — "Stock market crash of 1929" (Britannica overview of events and impacts).
• History.com — "Black Tuesday" and related pages (chronology and contemporary accounts).
• Investopedia — "Stock Market Crash of 1929" (analysis of causes and market mechanics).
• EBSCO Research Starter — research summary on the 1929 crash.
• Social Welfare History Project — historical context and social impact.
• Goldman Sachs — historical market summaries and timelines.

Further archival and academic works (books and peer‑reviewed articles) offer deeper analysis of policy choices and macroeconomic links.

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To revisit the central query: what date did the stock market crash in 1929? The short answer is that the crash occurred across several days in late October 1929, with October 24 (Black Thursday), October 28 (Black Monday) and especially October 29, 1929 (Black Tuesday) being the principal dates cited by historians.

Note: This article summarizes historical facts and does not provide investment advice. For primary documents and deep archival material, consult the listed references and library resources.