Definition - What does Closing Date mean? The closing date refers to the date when a company purchase and sale transaction is signed off and completed. This date may be different than the effective date, which is the date when the transaction is deemed to have occurred. Most of the time, the closing and effective date of a transaction is the same day.
The most catastrophic stock market crash in the history of the United States, Black Tuesday took place on October 29, 1929 and was when the price of stocks completely collapsed. It was because of this day that the Roaring Twenties came to a stumbling halt and, in its place, was the Great Depression.
All that stood between the U.S. and a serious crash was a J.P. Morgan led consortium that did the work of the Fed before the Fed existed. Black Tuesday, Thursday and Monday (October 1929) The Crash of 1929 was bloodletting on an unprecedented scale because so many more people were involved in the market. It left several black days in the history books, each with their own record breaking slides.