The United States stock market crash that preceded the Great Depression began in 1929.
After years of rising share prices and widespread speculation, U.S. markets became increasingly unstable in October 1929. Major selling days included October 24, October 28, and October 29, when panic intensified on the New York Stock Exchange.
The crash did not by itself cause every feature of the Great Depression. Banking failures, falling demand, debt problems, policy decisions, and international economic weaknesses also played important roles. The market collapse nevertheless severely damaged confidence and wealth.
The year 1929 identifies the crash’s beginning, while the Great Depression continued through much of the 1930s. This distinction matters because the stock market recovered and declined in several stages rather than falling in one uninterrupted movement.