The Stock Market Crash of 1929

The Stock Market Crash of 1929 was a severe financial collapse that marked the beginning of the Great Depression. After a decade of economic growth, stock prices became inflated as many people invested heavily, often buying on credit. On October 24, 1929, known as Black Thursday, panic selling began, leading to a rapid decline in stock prices. This loss of confidence caused further selling and ultimately triggered widespread bank failures, massive unemployment, and a prolonged economic downturn, profoundly impacting both the United States and the global economy for years afterward.