Final answer:
Black Tuesday on October 29, 1929, marked the day of the stock market crash during the Stock Market Crash of 1929, leading to widespread financial devastation and bankruptcies.
Explanation:
Black Tuesday refers to the day the stock market crashed on October 29, 1929, marking the climax of the Stock Market Crash of 1929. This event led to a significant decline in stock prices, causing widespread financial losses and bankruptcies.
The panic selling triggered by the crash resulted in a drastic drop in stock values, with major companies like U.S. Steel and General Motors experiencing substantial declines in their stock prices.
Following Black Tuesday, the stock market continued to plummet, eventually losing over 90% of its pre-crash value and taking years to recover, reflecting the severity of the economic downturn known as the Great Depression.
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