Black Tuesday
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Black Tuesday was Oct. 29, 1929, and it was marked by a sharp fall in the stock market, with the Dow Jones Industrial Average (DJIA) especially hard hit in high trading volume. The DJIA fell 12%, one of the largest one-day drops in stock market history. More than 16 million shares were traded in the panic sell-off, which effectively ended the Roaring Twenties and led the global economy into the Great Depression.
Definition
Black Tuesday refers to October 29, 1929, when the U.S. stock market experienced one of the largest single-day declines in history. The Dow Jones Industrial Average was hit hard, dropping 12% amid high trading volumes. This stock market crash marked the end of the 'Roaring Twenties' and led to the onset of the Great Depression worldwide.
Origin
Black Tuesday was part of the 1929 stock market crash, which began with 'Black Thursday' on October 24, when panic selling started. The crash on October 29 was the climax of these events, leading to a complete collapse of market confidence.
Categories and Features
Black Tuesday falls under the category of financial market crashes, characterized by extremely high trading volumes and market panic. Such events are typically accompanied by a loss of investor confidence and a sharp decline in market liquidity, resulting in rapid asset price drops.
Case Studies
On Black Tuesday, the Dow Jones Industrial Average fell by 12%, with over 16 million shares traded. Many investors suffered significant financial losses on this day. Another example is 'Black Monday' in 1987, when the Dow Jones dropped 22.6% in a single day, also due to market panic and high trading volumes.
Common Issues
Common issues investors face during market crashes like Black Tuesday include how to protect their portfolios and avoid panic selling. It is often advised to diversify investments and remain calm to manage market volatility effectively.
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