October 29 - 1929 - Black Tuesday
On October 29, 1929, the Dow Jones Industrial Average dropped over 200 points, making the date forever known as Black Tuesday. What made this so terrible was that came immediately on the heels of Black Monday, which had a slightly larger drop, and just a few days after Black Thursday, whcih saw a similar drop. Altogether, the Wall Street Crash of 1929 would spark the Great Depression and ten years of severe, global economic crisis. The cause was a large speculation bubble and increasing debt, but almost no one foresaw these problems at the time. When Roger Babson predicted a crash, most people thought the small drop that followed his warning was merely a correction. Instead, a month later the severe crash of October occurred, and the entire world was plunged into an economic depression.