What event triggered the onset of the Great Depression?

The Wall Street Stock Market crash of 1929 is widely recognized as the event that triggered the onset of the Great Depression. This catastrophic event marked a significant downturn in economic activity, leading to massive financial losses for investors and widespread panic. On October 29, 1929, known as Black Tuesday, the stock market collapsed, leading to a loss of billions of dollars in wealth. The crash shook public confidence in the economy, resulting in a reduction of consumer spending and business investment, which deepened the economic decline.

This catastrophic financial upheaval was not just an isolated incident; it had far-reaching effects that led to bank failures, high unemployment rates, and a plunge into economic despair that lasted throughout the 1930s. While other events, such as the collapse of the European economy or the political rise of fascism, were significant in their own right, they did not directly trigger the economic crisis to the same extent as the stock market crash. The end of World War I also contributed to economic instability, but it was not the immediate cause of the Great Depression.