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The Stock Market crash of 1929 triggered a severe economic downturn known as the Great Depression, leading to widespread unemployment and business failures across the United States. Many banks collapsed, wiping out personal savings and causing a loss of confidence in financial institutions. The resulting economic hardship affected millions of Americans, leading to increased poverty, homelessness, and social unrest, while also prompting significant changes in government policy and financial regulation. The crash fundamentally altered the relationship between the government and the economy, paving the way for the New Deal and other reform initiatives.

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