The event in 1929 that greatly affected global economies and led to the Great Depression was the Stock Market Crash of October 29, known as Black Tuesday. This crash followed a period of intense speculation and rapid stock price increases, after which millions of shares became worthless almost overnight. The sudden loss of wealth severely impacted consumer confidence, leading to a dramatic decrease in spending and investment. As banks failed and businesses closed, unemployment soared, and economies worldwide fell into recession. The consequences of the crash were profound and long-lasting, shaping economic policies for decades.