In October 1929, the United States stock market experienced a series of events that led to the Great Depression, a global economic collapse that lasted for a decade:

• Black Monday: On October 28, 1929, the Dow Jones Industrial Average (DJIA) dropped nearly 13% in a day of heavy trading.
• Black Thursday: On October 24, 1929, the stock market crash began.
• Black Tuesday: On October 29, 1929, the stock market crash was complete, with 16 million shares sold at a fraction of their price.
• The crash was preceded by a period of economic growth and speculative expansion. However, a glut of supply and declining demand led to the crash, as producers could no longer sell their products. The crash wiped out billions of dollars in wealth and led to the Great Depression, the worst economic collapse in modern history.
• The crash had a devastating impact on the economy, with unemployment rising to 25% and millions underemployed. Two million people became homeless migrants, settling in makeshift communities known as “Hoovervilles”.
• In response to the crash, Congress passed federal regulations to stabilize the markets, such as the Glass Steagall Act of 1933.