4. The Stock Market Crash of 1929 (October 29, 1929)
On October 29, 1929, known as Black Tuesday, the U.S. stock market experienced a catastrophic collapse, marking the beginning of the Great Depression. The Dow Jones Industrial Average plummeted nearly 13 percent on Black Monday, followed by a further decline of nearly 12 percent on Black Tuesday. This unprecedented downturn led to widespread unemployment and economic hardship, with effects rippling across the globe. In response, major financial reforms were implemented to stabilize the economy. For more detailed information, visit the Federal Reserve History’s article on the Stock Market Crash of 1929.
