- ›› Coverage Geographical : Wall Street
Glossary Term – Event
Five days after the October 24 crisis, on Black Tuesday—October 29, 1929—the stock market experienced the greatest crash in its history. As soon as the stock exchange's gong sounded, a mad rush to sell began. Trading volume soared to an unprecedented 16,410,030 shares and the average price of a share fell 12 percent. This dive came with the convergence of economic problems of production, income, and credit. The crash destroyed the fortunes of brokers and speculators and set off a long period of economic panic. It also marked the beginning...