What 1929 U.S. stock-market crash helped begin the Great Depression?

The 1929 U.S. stock-market crash that helped begin the Great Depression was the Wall Street Crash of 1929.

Share prices had risen dramatically during the 1920s, encouraged by speculation and widespread buying on margin. The market turned sharply in October 1929. Black Thursday occurred on October 24, followed by especially heavy selling on Black Monday, October 28, and Black Tuesday, October 29.

The crash destroyed enormous paper wealth, but it did not by itself cause every part of the Great Depression. Bank failures, falling demand, debt, declining investment, and policy responses deepened the worldwide economic contraction. The crash is often confused with Black Monday in 1987, which was a separate global market collapse.

The Dow Jones Industrial Average continued falling after October 1929 and reached its low in 1932. Recovery in share prices took many years, while unemployment and industrial production were affected across numerous countries.