The Great Depression in the United States began with the stock market crash on October 29, 1929, often referred to as Black Tuesday. On this day, stocks plummeted dramatically, erasing millions of dollars in wealth and confidence in the economy. This event triggered a cascade of bank failures, business bankruptcies, and widespread unemployment, leading to a severe economic downturn that lasted throughout the 1930s. The Great Depression had profound effects on American society, influencing government policies and economic theory in subsequent decades.