The catastrophic event in 1929 that severely affected the global economy was the stock market crash, commonly known as Black Tuesday, which occurred on October 29. This event marked the beginning of the Great Depression, a decade-long economic downturn characterized by widespread unemployment, bank failures, and a dramatic decline in industrial production. The crash was triggered by speculative investments and an overinflated stock market, leading to panic and massive sell-offs. Its repercussions were felt worldwide, altering economic policies and practices, leading to increased government intervention in economies, and changing the socio-political landscape of many countries.