The event in 1929 that is widely associated with the onset of the Great Depression is the Stock Market Crash, which occurred in October of that year. The crash, particularly notable for its dramatic decline in stock prices, marked the beginning of a severe economic downturn that affected not only the United States but also economies worldwide. Triggered by speculative investments and economic instability, the crash led to widespread financial panic, bank failures, and massive unemployment. The resulting economic hardship persisted throughout the 1930s, leading to significant changes in governmental policies and economic theories aimed at recovery and reform in the aftermath of the crisis.