The event that sparked the beginning of the Great Depression in the United States was the stock market crash of October 1929. Often referred to as Black Tuesday when the market plummeted on October 29, millions of investors lost their savings as stock prices collapsed. This financial disaster led to widespread panic, bank failures, and a drastic reduction in consumer spending and investment. The economic repercussions were profound, resulting in mass unemployment and severe hardship in the U.S. and worldwide, taking years to recover fully.