The stock market crash of 1929 was not the sole cause of the Great Depression, but it did act to accelerate the global economic collapse of which it was also a symptom. By 1933, nearly half of America's banks had failed, and unemployment was approaching 15 million people, or 30 percent of the workforce.
Black Tuesday was the fourth and last day of the stock market crash of 1929. It took place on October 29, 1929. Investors traded a record 16.4 million shares. They lost $14 billion on the New York Stock Exchange, worth $199 billion in 2017 dollars.Jan 2, 2018
A stock market crash is a sudden dramatic decline of stock prices across a significant cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles.