5. The Great Depression (1930s)
The Great Depression, spanning the 1930s, was a severe global economic downturn that followed the 1929 stock market crash. It led to widespread bank failures, with approximately 9,000 banks closing in the United States between 1929 and 1933, resulting in the loss of billions of dollars in assets. Unemployment rates soared, reaching up to 25% in the U.S., and international trade plummeted by more than 50%. The economic hardship prompted significant government interventions and policy changes worldwide. (en.wikipedia.org)
