The Crash
On September 18, 1929, share prices on the NYSE went down, abruptly. This led people to panic. On October 24th, Black Thursday, 1929, millions of people rushed to the New York Stock Exchange to sell their stocks. 11% of the market's value was lost that day. On the following Monday, Black Monday, even more people decided to sell their stocks. 13% was sold that day. The next day, Black Tuesday, 12% was lost.
Primary Source
Gigantic Bank Pool Pledged To Avert Disaster as Second Big Crash Stuns Wall Street
Largest Financial Powers in the City Meet After Day of Hysterical Liquidation Sinking Prices Below Thursday’s
By Laurence Stern
After the stock market had come crashing down again in a veritable deluge of forced and hysterical liquidation, word sped through the financial district last evening that the largest banks in the city were prepared to exert their organized power this morning to prevent further disaster.
Arrangements described as “fully adequate” were completed at a conference at the offices of J. P. Morgan & Co. at Broad and Wall Streets…
Although no formal statement was issued, it was the consensus of those at the meeting that the worst of the liquidation is over and that a natural demand for investment stocks now available on the bargain counter should go far toward an immediate restoration of trading stability.
— The World, October 29, 1929
(http://www.pbs.org/wgbh/americanexperience/features/primary-resources/crash-headlines/)
Largest Financial Powers in the City Meet After Day of Hysterical Liquidation Sinking Prices Below Thursday’s
By Laurence Stern
After the stock market had come crashing down again in a veritable deluge of forced and hysterical liquidation, word sped through the financial district last evening that the largest banks in the city were prepared to exert their organized power this morning to prevent further disaster.
Arrangements described as “fully adequate” were completed at a conference at the offices of J. P. Morgan & Co. at Broad and Wall Streets…
Although no formal statement was issued, it was the consensus of those at the meeting that the worst of the liquidation is over and that a natural demand for investment stocks now available on the bargain counter should go far toward an immediate restoration of trading stability.
— The World, October 29, 1929
(http://www.pbs.org/wgbh/americanexperience/features/primary-resources/crash-headlines/)
Media
http://www.history.com/videos/1929-stock-market-crash#1929-stock-market-crash