What event is often cited as the beginning of the Great Depression?

The stock market crash of 1929 is widely recognized as the catalyst for the Great Depression. On October 29, 1929, known as Black Tuesday, the U.S. stock market experienced a dramatic fall, wiping out millions of investors and leading to a decline in consumer confidence. This event triggered a chain reaction that severely impacted banks and businesses, resulting in massive unemployment, economic stagnation, and a significant decrease in consumer spending. The crash exposed underlying weaknesses in the economy, such as overproduction, underconsumption, and excessive speculation, which had built up during the 1920s.

While other events, such as the Dust Bowl, contributed to the hardships of the 1930s, they occurred after the initial downturn caused by the stock market crash and were not the primary cause of the economic crisis. Similarly, World War I and the Treaty of Versailles, though significant historical events, were not directly linked to the onset of the Great Depression in the way that the stock market crash was.