The Great Depression had devastating impacts on economies worldwide, leading to widespread unemployment, bank failures, and declines in industrial production. It began in the United States with the stock market crash of 1929 and swiftly spread to Europe and beyond. Countries experienced severe deflation, and governments struggled to respond effectively, often implementing protectionist policies that further worsened the crisis. Global trade declined drastically, as nations turned inward to protect their own economies. Social unrest and political instability also surged, paving the way for extremist movements in several regions, ultimately reshaping the geopolitical landscape of the 20th century.