The Wall Street Crash of 1929 was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout causing major debt hangovers and severe cash shortages.
To describe this collapse three phrases – Black Thursday, Black Monday, and Black Tuesday – are used. As the crash was not a one-day affair all three are appropriate to describe this collapse Initially the crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 28 and 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences. The collapse continued for a month.
What role did the crash played in subsequent economic, social, and political events? Economists and historians disagree.