As measured by the Dow Jones Industrial Average (DJIA), the leading index of the day, stocks declined 2% in value on Black Thursday.<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "What’s the Difference Between Black Thursday and Black Tuesday?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Both are part of the Great Stock Market Crash of 1929, but at opposite ends. Black Thursday, Oct. 24, 1929, is seen as the beginning of the crash.<\/span> Some 12 million shares changed hands, and the Dow fell sharply in the opening hours of trading, though it recovered somewhat to close six points down from the previous day—about a 2% decline in value.<\/span><\/p> Black Tuesday occurred five days later, on Oct. 29, and marked the final—and worst—day of the crash. In a record trading volume of 16 million shares, stock prices collapsed, and the Dow dropped more than 30 points, losing 12% of its value in that one day.<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "Why Did Stock Prices Fall So Sharply on Black Tuesday?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Confidence in the stock market had been badly shaken by the significant declines in the Dow on the previous Thursday (Black Thursday) and Monday (Black Monday). Though a consortium of banks tried to restore investors’ faith via heavy buying, panic built upon the previous panic. As prices slid, many investors faced margin calls<\/a>: They had borrowed money to buy stocks, and now they had to come up with more funds to maintain their positions; if they were unable to, then they had to sell their shares—which, of course, caused prices to fall further.<\/p> Trading became so fast and furious that stock tickers<\/a> (physical telegraph machines that reported share prices) couldn’t keep up, lagging behind by hours; confusion over the lack of up-to-date information encouraged the stampede to sell.<\/p>"
}
}
]
} ] }
]