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

    The term 'black' is used to refer to a company's profitability. ...
  2. Black Market

    A black market is economic activity that takes place outside ...
  3. Black Box Model

    A black box model is a system using inputs and outputs to create ...
  4. Cyber Monday

    The Monday following U.S. Thanksgiving weekend, representing ...
  5. Stock Market Crash Of 1929

    The Stock Market Crash of 1929 was the start of the biggest bear ...
  6. Green Monday

    The second Monday in December, which is one of the most lucrative ...
Related Articles
  1. Investing

    Black Friday on Thanksgiving? It is Now (WMT)

    Learn which big-box retailers are (and are not) open on Thanksgiving Day, and it how it might impact those retailers.
  2. Insights

    Amazon Opens Black Friday Shop Early

    You don't have to wait until the day after Thanksgiving to do your Black Friday shopping at Amazon. The retailer started its Black Friday early.
  3. Insights

    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.
  4. Insights

    154 Million People Shopped Over Thanksgiving Weekend

    Number of consumers rise but average spend down as retailers spread out sales.
  5. 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.
  6. Investing

    October: The Month Of Market Crashes?

    In the finance world, October is a month to be feared, but is it justified?
  7. Insights

    Top Retail Stocks to Watch on Black Friday

    One or more of these seven retail stocks may be a solid buying choice for investors.
  8. Trading

    The Crash Of 1929 - Could It Happen Again?

    Learn about the series of events that triggered the Great Depression.
  9. Personal Finance

    You'll Be More Thankful If You Stick To A Thanksgiving Budget. Here's How.

    Before buying your turkey and trimmings, plan and budget to keep costs under control.
  10. Insights

    The Biggest Market Sell-Offs in History (DJI, SPX)

    Here are the Dow's ten-largest single-day percentage declines.
RELATED FAQS
  1. How is the stock market affected by Thanksgiving and Black Friday?

    Thanksgiving and Black Friday sales numbers are considered to be important indicators for stock market activity throughout ... Read Answer >>
  2. On what days are the American stock exchanges closed?

    Similar to most businesses, the major stock markets in North America are open for trading on normal business days only (excepting ... Read Answer >>
  3. What caused the Stock Market Crash of 1929 that led to the Great Depression?

    Find out what led to the stock market crash of 1929, which in turn fueled the Great Depression, sparking a nearly 90% loss ... 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. 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 >>
  6. How are Three Black Crows patterns interpreted by analysts and traders?

    Understand the basics of the three black crows pattern and how analysts and traders interpret this bearish reversal pattern ... Read Answer >>
Hot Definitions
  1. Ethereum

    Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (ĐApps) to be built ...
  2. Cryptocurrency

    A digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of ...
  3. Financial Industry Regulatory Authority - FINRA

    A regulatory body created after the merger of the National Association of Securities Dealers and the New York Stock Exchange's ...
  4. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by companies seeking the capital to expand ...
  5. Cost of Goods Sold - COGS

    Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company.
  6. Profit and Loss Statement (P&L)

    A financial statement that summarizes the revenues, costs and expenses incurred during a specified period of time, usually ...
Trading Center