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The global economic crisis during the Great Depression was significantly contributed to by several factors, including the Stock Market crash of 1929, which eroded investor confidence and led to widespread bank failures. Additionally, protectionist trade policies like the Smoot-Hawley Tariff exacerbated the situation by reducing international trade. Furthermore, poor monetary policies, such as the contraction of the money supply, worsened deflation and unemployment rates, deepening the economic downturn worldwide.

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