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It is most associated with October 24, 1929, known as "Black Thursday", when a record 12.9 million shares were traded on the NYSE in a single day (as compared to an average of four million), [1] [2] and October 29, 1929, known as "Black Tuesday", when about 16.4 million shares were traded. [3]
Wall Street Lays an Egg was a headline printed in Variety, a newspaper covering Hollywood and the entertainment industry, on October 30, 1929, over an article describing Black Tuesday, the height of the panic known as the Wall Street Crash of 1929 (the actual headline text was WALL ST.
After the Wall Street Crash of 1929, when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with the Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932.
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The Great Depression kicked off with the Black Tuesday Wall Street stock market crash in October 1929. This story was originally featured on Fortune.com Show comments
Edward Jackson personally covered "Black Thursday," October 24, 1929 when Wall Street experienced the beginnings of the famed stock market crash leading to the infamous "Black Tuesday" on October 29, 1929 – the beginnings of the Great Depression. Jackson's camera captured much of this tragedy over the next ten years.
Ted Weisberg and Chris Hogan reflect on the start of the Great Depression 90 years ago and where the U.S. economy currently stands.
October 24: Wall Street Crash of 1929 begins. Stocks lose over 11% of their value upon the opening bell. October 25–27: Brief recovery on the market. October 29: 'Black Tuesday'. The New York Stock Exchange collapses, the Dow Jones closing down over 12%. October 30: one day recovery