The global economic crisis that began with the stock market crash in 1929 is known as the Great Depression. Triggered by the crash on October 29, 1929, referred to as Black Tuesday, the crisis resulted in widespread economic downturns, massive unemployment, and severe contraction in economic activity. It led to bank failures, business bankruptcies, and a stark decline in consumer spending and investment. The Great Depression heightened poverty levels and prompted significant social and political unrest. Governments around the world were forced to adopt interventionist policies, including those from President Franklin D. Roosevelt’s New Deal in an attempt to stabilize the economy.