The stock market crash of 1929 is often credited as the event that started the chain of events leading to the Great Depression. Occurring in late October, this crash followed a period of speculative investment and economic overextension, leading to widespread panic and a rapid decline in stock prices. As investors lost confidence, this fallout triggered bank failures and reduced consumer spending, exacerbating the economic downturn. The effects of the crash rippled through the economy, resulting in staggering unemployment rates and widespread poverty in the following years. Ultimately, it highlighted vulnerabilities in the financial system and prompted significant governmental reforms.