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After the Wall Street market crashed in October 1929, the United States plunged into the Great Depression, leading to widespread economic hardship. Unemployment soared as businesses failed and banks collapsed, resulting in a loss of savings for many Americans. The Stock Market crash also triggered a loss of consumer confidence, further exacerbating the economic downturn. In response, the government implemented various measures, including the New Deal under President Franklin D. Roosevelt, aimed at economic recovery and reform.

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