Today in History: October 29, 1929

'Black Tuesday' for Stock Market

More than 16 million shares, a new record, are traded on the New York Stock Exchange, with many investors pulling out of the market. The Dow Jones Industrial Average loses 12 percent of its value on a day that will be known as “Black Tuesday.” The Crash of 1929 will devastate the economy and will be widely viewed as a major precursor to the Great Depression.