An important economic event in the United States in 1929 was the Stock Market Crash, which marked the beginning of the Great Depression. On October 29, often referred to as Black Tuesday, stock prices plummeted, leading to a loss of billions of dollars in wealth. The crash was fueled by rampant speculation, overvalued stocks, and an unsustainable economic climate. Its aftermath resulted in widespread bank failures, soaring unemployment, and significant declines in industrial output. This catastrophic event reshaped economic policy in the U.S. and led to government interventions aimed at stabilizing the economy, ultimately prompting the New Deal.