Do the terms Black Tuesday and Black Thursday refer to the stock market crash of 1929?

The Stock Market Crash of 1929 is still the most devastating crash on record. Wall Street crashed to pre-1900s levels, and didn't recover for over 20 years. Anyone who had invested in stocks and held them throughout the crash waited decades to break even on that investment.

The first indication that something was wrong occurred on Oct. 24, 1929, also known as "Black Thursday." This day, a full five days before the infamous "Black Tuesday", was the first day that share prices dropped sharply on the New York Stock Exchange. The entire week before Black Tuesday was an unstable one at stock markets across the country, with periods of frantic trading punctuated by brief rises in prices.

The stock market crash of 1929 occurred during a period of low real estate values. This is just one reason that the worldwide recession of 1929 was compared to Black Tuesday and the Wall Street crash of 1929. Like the 1929 recession, Black Tuesday affected more than just the U.

S; many people in Europe saw fortunes vanish before their eyes. In the roaring twenties, many people felt that the miracle of the high markets could last forever. Anyone who had enough money to buy stock did so, and so many people became wealthy, or at least better off, overnight, that speculation turned into a national addiction.

Despite the warnings of a few prudent experts, everyone, including several prominent economists, seemed to think that high market levels would go on forever. When the stock market crash of 1929 occurred, the U.S. was a nation in a collective state of shock. Black Tuesday, Oct. 29, 1929, was the day so many shares were traded that it set a record that wasn't broken for 40 years.

After a weekend full of panic and uncertainty, most investors made the decision to dump their stock before it plummeted further. Of course, this only caused the market to crash further. Black Thursday might have been a crisis, but Black Tuesday was really the final nail in the nation's coffin.

Despite many lessons the nation thought it learned during the stock market crash of 1929, similar circumstances led to the worldwide economic crisis of 1929.