Stock market crash on Wall Street triggers the Great Depression

On 28 October 1929, the stock market crash on Wall Street, known as "Black Tuesday," devastated economies worldwide, initiating the Great Depression

Desk Report

Publisted at 9:04 AM, Tue Oct 29th, 2024

On 28 October 1929, known ominously as "Black Tuesday," Wall Street's stock market plummeted into chaos, erasing billions in value and setting off a financial shockwave that reverberated worldwide, marking the start of the Great Depression.

The frantic trading on the floor echoed the anxiety of investors, who watched helplessly as years of amassed wealth and optimism evaporated in hours.

This devastating collapse was not just an American tragedy but a global one, dragging down economies, bankrupting businesses, and throwing millions into unemployment and poverty, altering the trajectory of the world economy and societal structures for the years to come.