What were the major events of the Great Depression?

The Great Depression, which lasted from 1929 to the late 1930s, was a period of severe economic downturn that had a profound impact on the world. Several major events occurred during this time:

1. Stock Market Crash of 1929: On October 29, 1929, known as Black Tuesday, the stock market experienced a sudden and dramatic collapse. Billions of dollars were lost as stock prices plummeted, leading to widespread panic and a loss of confidence in the economy.

2. Bank Failures: As a result of the stock market crash, numerous banks faced financial difficulties. Panicked depositors rushed to withdraw their savings, causing many banks to fail. By 1933, over 9,000 banks had closed their doors, wiping out the savings of millions of Americans.

3. Dust Bowl: In the early 1930s, a severe drought and poor farming practices led to massive dust storms in the Great Plains region of the United States. These storms, known as the Dust Bowl, destroyed crops, killed livestock, and forced many farmers to abandon their land, exacerbating the economic hardships faced by rural communities.

4. Unemployment and Poverty: The Great Depression resulted in widespread unemployment, with millions of people losing their jobs. The unemployment rate reached its peak at around 25% in 1933. Many families struggled to make ends meet, leading to widespread poverty and homelessness.

5. New Deal: In response to the economic crisis, President Franklin D. Roosevelt implemented a series of programs and reforms known as the New Deal. These initiatives aimed to provide relief, recovery, and reform, including the creation of jobs, social welfare programs, and financial regulations.

6. Global Impact: The Great Depression had a significant impact on countries around the world. International trade declined sharply, leading to a global economic downturn. Many countries implemented protectionist policies, worsening the economic situation and contributing to the rise of nationalism and the eventual outbreak of World War II.

These major events of the Great Depression had far-reaching consequences, reshaping economies, societies, and political landscapes for years to come.