The Great Depression was the worst economic collapse in world history. Many people around the world have lost their jobs, banks have lost their money and almost all confidence in the economy has been lost. During the Depression, unemployment reached a record high of 33 percent in some places. The Great Depression was one of the most important things to happen in global and financial history. The effects of the Great Depression lasted for many years. The Great Depression began on a day in American and world history that was etched in our hearts forever; October 29, 1929 (Black Tuesday). The Dow Jones Industrial Average on the New York Stock Exchange fell 12% and caused many people to lose their invested money and assets. The Depression was felt throughout the world as during this time period the loss of nearly 35% of all jobs and trade was seen. At the height of the Depression, the Dow Jones Industrial Average lost 89% of its assets and value. This led to the closure of banks, businesses and stores, leaving many Americans jobless and without money. Without any assets, people depended on the government for food and financial aid. The Roosevelt administration then created many government agencies to alleviate the effects of the Depression and to ensure that something so catastrophic did not happen again. The people most affected by the Great Depression were shareholders. Thousands of shareholders lost huge amounts of money during Black Tuesday. The rapid decline in stock prices caused shareholders to lose their money in one day. While it was a devastating loss, there was no way to have predicted it. From 1925 to 1929, the average price of stocks on the New York Stock Exchange doubled, prompting people to invest ridiculous amounts of money in hopes of making a hug... middle of paper... change crash of October 1929 and so the subsequent depression pushed shareholders to worry about their own stock market investments rather than about other people's investment data. Even in the current recession, the economic policies of several world leaders have been influenced by the measures taken to end the Great Depression and revive economic conditions. Because of its enormous effects in America and around the world, the Great Depression is considered in history as a creak due to the collapse of the global economy. Hopefully, in the future of the global economy, people will be much richer and more prosperous than they were in the Roaring Twenties, and that America and thus the rest of the globe are once again chasing the “American Dream,” instead to have another unexpected event. and catastrophic events such as the Great Depression.