The Roaring Twenties' era of prosperity came to a screeching halt in 1929 with the Wall Street Crash, plunging many Americans into debt and destitution. A combination of factors led to the collapse of the markets, including overproduction in agriculture causing a fall in demand for grain, a decline in American exports after the imposition of high tariffs, rampant stock market speculation, and struggles in traditional industries.

The crisis culminated on Black Monday, October 28, when the Dow Jones Industrial Average fell nearly 13%. The next day, Black Tuesday, saw an additional drop of about 12%, erasing billions of dollars in value. By mid-November 1929, the Dow had lost approximately half its value compared to its September peak. The crash marked the beginning of the Great Depression, a devastating global economic downturn that lasted through the 1930s.

The Most Important Historical Event In All 50 States