Black Thursday

What was 'Black Thursday'

Black Thursday is the name given to Thursday, Oct. 24, 1929, when the Dow Jones Industrial Average plunged 11% at the open in very heavy volume, precipitating the Wall Street crash of 1929 and the subsequent Great Depression of the 1930s.

More recently, "Black Thursday" is also used to refer to the Thanksgiving holiday in the United States, as more retailers open on Thanksgiving evening in a bid to get an early start on the frenzied shopping of Black Friday.

BREAKING DOWN 'Black Thursday'

Black Thursday and the consequent market crash of 1929 triggered a complete overhaul of market regulation of the U.S. securities industry. These events led to the promulgation of the Securities Act of 1933 and the Securities Exchange Act of 1934.

The shopping version of "Black Thursday" has led to growing resistance among employees of retailers, who complain that they are forced to leave Thanksgiving family dinners early in order to report to work on time. Many retailers are opening earlier on Black Thursday with every passing year in order to counter the increasing popularity of online sales.

RELATED TERMS
  1. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, ...
  2. Black Market

    Economic activity that takes place outside government-sanctioned ...
  3. Black

    A description of a positive balance on a company's financial ...
  4. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) ...
  5. Black Money

    Money earned through any illegal activity controlled by country ...
  6. Cyber Monday

    An expression used in online retailing to describe the Monday ...
Related Articles
  1. Markets

    Does Thanksgiving Shopping Really Benefit Retailers?

    Do retailers really benefit by opening their doors to shoppers on Thanksgiving day?
  2. Markets

    Retailers Rebel Against Black Friday: Bad Move?

    The Black Friday creep may have hit a wall as some stores are shutting their doors on Thanksgiving and even Black Friday to give employees the day off.
  3. Markets

    Where Does the Term "Black Friday" Come From?

    The term Black Friday can be used in a couple of different contexts; one positive and one negative.
  4. Personal Finance

    Shop Here for the Best Black Friday Deals

    If you're shopping the post-Thanksgiving sales this year - whether online or in-person - you'll find great bargains at these deep-discounting retailers
  5. Personal Finance

    How Black Friday Really Got Its Name

    No, it has nothing to do with accounting. Here's the real story.
  6. Personal Finance

    9 Worst Items to Buy on Black Friday

    If these items are on your holiday shopping list, consider finding a substitute – or don't expect to get the deal of the year.
  7. Personal Finance

    5 Best States for Black Friday Shopping

    These states have great deals on your day-after-Thanksgiving purchases. The secret? No – or lower – sales taxes.
  8. Personal Finance

    3 Stores to Avoid This Coming Black Friday

    Learn what stores are best to avoid if you absolutely must participate in the madness known as Black Friday, and identify ways to obtain even better deals.
  9. Markets

    What Happened On Black Monday?

    On October 19, 1987, the Dow Jones dropped 508 points, or almost 22% in a single day. That was Black Monday.
  10. Trading

    October: The Month Of Market Crashes?

    In the finance world, October is a month to be feared, but is it justified?
RELATED FAQS
  1. How is the stock market affected by Thanksgiving and Black Friday?

    See why Thanksgiving and Black Friday sales numbers are considered to be important indicators for stock market activity throughout ... Read Answer >>
  2. What is Black Friday?

    Black Friday is a popular label attached to the Friday following Thanksgiving Day in the US. This day marks the beginning ... Read Answer >>
  3. To whom was the term "corporate kleptocracy" first applied?

    The term "corporate kleptocracy" is believed to have originated in a 2004 report by the Special Committee of the Board of ... Read Answer >>
  4. How effective is creating trade entries after spotting a Three Black Crows pattern?

    Understand the basics of the three black crows candlestick pattern and how this reversal signal is used for the creation ... Read Answer >>
  5. What is Black Monday?

    Monday October 19,1987, is known as Black Monday. On that day, stockbrokers in New York, London, Hong Kong, Berlin, Tokyo ... Read Answer >>
  6. How do I implement a forex strategy when spotting a Three Black Crows Pattern?

    Learn a common forex trading strategy traders use to capitalize on the bearish market reversal signal given by the three ... Read Answer >>
Hot Definitions
  1. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  2. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  3. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  4. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  5. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  6. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
Trading Center