The purpose of the Stock Market Crash of 1929 was not intentional; however, its effects were catastrophic. The crash occurred in October 1929 and marked the beginning of the Great Depression, a period of economic turmoil that lasted through the 1930s. Speculative investments and over-leveraging led to the inflated stock prices that ultimately plummeted. The crash eroded consumer confidence and resulted in massive unemployment, business failures, and bank closures. It revealed weaknesses in the U.S. economy and prompted government intervention, including the establishment of financial regulations, which aimed to restore stability and prevent future economic crises.