The major international event that took place in 1929, leading to a global economic downturn, was the Wall Street Crash. Beginning in late October, the stock market crash signified the start of the Great Depression, a period of severe worldwide economic hardship lasting through much of the 1930s. Millions lost their jobs, businesses failed, and global trade plummeted. The repercussions were felt globally, leading to economic instability, political upheaval, and social unrest. Governments struggled to cope with the crisis, which ultimately reshaped economic policies and led to significant reforms, including the introduction of social safety nets and monetary interventions to stabilize economies.