Answer:
1. Stock Market Crash of 1929 - Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, 1929 is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression
enough and America truly entered what is called the Great Depression.
2. Bank Failures - Throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings.
3. Reduction in Purchasing Across the Board - With the stock market crash and the fears of further economic woes, individuals from all classes stopped purchasing items.
