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What does the phrase "Black Tuesday" refer to in U.S. history?
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Black Tuesday refers to Tuesday, October 29, 1929. It is one of several "black" days in quick succession; they were "black" because on those days the stock market suffered its greatest losses ever. Black Thursday started it, then Black Monday and Tuesday. Each of those last two days, the market suffered a more than 10% drop. Taken in quick succession, these days essentially killed the Roaring Twenties and led the United States right into the Great Depression.
Posted by gbeatty on April 16, 2008 at 9:21 AM (Answer #1)
High School Teacher
The phrase "Black Tuesday" refers to the third day of the stock market crash of 1929. Black Tuesday, October 29, 1929 was the climax of the stock market panic that touched off the Great Depression. Nervous investors tried deperately to sell off their stocks and virtually no one wanted to buy shares. The prices for stocks collapsed, and it took years for the market to recover the value that it lost in those three days. The market panic set off a wave of bank closures, high unemployment, and inflation that we know as the Great Depression.
Posted by nutmegger on April 21, 2008 at 10:19 AM (Answer #2)
Elementary School Teacher
This was the date that the stock market crashed in October 1929. On this date severe losses were felt nation wide and sent the country on the road to the Great Depression. This period lasted from 1929 to 1939 when Roosevelt introduced the New Deal as attempt to help stimluate the American economy.
Posted by mwallace1975 on October 27, 2008 at 10:04 AM (Answer #4)
It refers to the date, October 29, 1929, the third day after the Great Depression, where the stock market crashed badly. It was the most devastating stock crash in US history. Share prices of the New York Stock Exchange collapsed. Many investors were eagerly trying to sell off their shares so that they won't get "bad cash" and there was a huge period of economic decline in the market, affecting many Western countries, and causing widespread suffering. Unemployment was on a all-time high, and many were bankrupt or have their assets liquidated
Posted by revolution on June 22, 2010 at 11:14 PM (Answer #5)
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