Black Tuesday

On 29 October 1929, some 16.4 million shares changed hands on the New York Stock Exchange as the stock market collapsed in the Wall Street crash of 1929, following Black Thursday's record 12.9 million-share selloff. The crash triggered a rapid erosion of confidence in the US banking system and marked the onset of the worldwide Great Depression. Congress responded with the Glass-Steagall Act, the Securities Acts of 1933 and 1934, the creation of the SEC, and trading-suspension practices to limit panic selling.