The event sparked by a series of economic crises that led to the stock market crash in 1929 is known as the Great Depression. The stock market crash on October 29, 1929, also referred to as Black Tuesday, was preceded by a decade of speculation and economic instability. Overproduction, high levels of debt, and declining consumer confidence created a fragile economy. The crash triggered a global economic downturn that lasted for years, leading to widespread unemployment and significant hardship for millions. The Great Depression profoundly impacted economic policies and led to reforms in banking and financial regulations in many countries.