The year 1929 marked the start of the American Great Depression, a severe worldwide economic downturn that lasted for about a decade. It commenced with the stock market crash on October 29, known as Black Tuesday, when stock prices plummeted, leading to widespread financial panic. Banks failed, businesses closed, and unemployment surged as millions lost their jobs and savings. The effects of the Great Depression were felt internationally, resulting in severe economic struggles across the globe. The economic crisis prompted significant changes in government policies and led to the establishment of social safety nets, ultimately shaping modern economic governance.