The Great Depression.

The Great Depression was a dramatic, worldwide economic downturn beginning in some countries as early as 1928. The beginning of the Great Depression in the United States is associated with the stock market crash on October 29, 1929, known as Black Tuesday. The depression had devastating effects in both the industrialized countries and those which exported raw materials. International trade declined sharply, as did personal incomes, tax revenues, prices, and profits.

The Great Depression is generally believed to have ended partily with the execution of some of the New Deal plans by president Franklin Delano Roosevelt, and the onset of World War II.