The stock market crash occurred on Oct. 29, 1929. Also referred to as "Black Tuesday," the crash marked the beginning of the Great Depression, which lasted from 1929 to 1939.
The crash of the stock market was preceded by expanded economic growth in the 1920s. By 1929, stocks were overvalued due to a decline in growth as well as rising unemployment. Other factors that contributed to the crash included bank-held debt, low wages and a lack of production in agriculture. Despite efforts by bankers and investment companies to shore up the market, it collapsed on October 29 with over 16 million shares traded that day.