The stock market crash of 1929 occured on “Black Thursday” (October 24th 1929) and “Black Tuesday” (October 29th 1929). The 1929 stock market crash (also known as the Wall Street Crash) followed after the bull markets of the 1920’s and caused the Great Depression in the early 1930’s.

After reaching all-time highs in early September 1929, the stock market crash that followed only some eight weeks later was to wipe 21% off the value of the stock market. These losses were mainly caused due to panic selling - rumored to be due to inflated stock prices and a decline in revenue expectations.

The stock market lost 47% of it’s value in only 26 days. By mid-July 1932, when the stock market finally bottomed out, 89% of the stock market’s value was gone.

This had a dramatic effect on the economy with some 12 million people becoming unemployed as a direct result of the stock market crash of 1929 and the subsequent depression that followed.

The stock market crash of 1929 was by far the worst stock market crash in history, although there have been crashes since such as the 1987 stock market crash on Wall Street.