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Though investors managed to halt the slide, just five days later on "Black Tuesday" the market crashed, losing 12 percent of its value and wiping out billion of investments.
Economists and historians point to the stock market crash of October 24, 1929, as the start of the downturn.
But the truth is that many things caused the Great Depression, not just one single event.
Even though the stock market regained some of its losses by the end of 1930, the economy was devastated.
America truly entered what is called the Great Depression.
You might be good at structuring the content and making it entertaining, but you can make a lot of grammatical mistakes.
After all, essay writing is one of the hardest tasks for many students.
A years-long drought coupled with farming practices which did not use soil-preservation techniques created a vast region from southeast Colorado to the Texas panhandle that came to be called the Dust Bowl.
Massive dust storms choked towns, killing crops and livestock, sickening people and causing untold millions in damage.
The market, which had reached record highs that very summer, had begun to decline in September.
On Thursday, October 24, the market plunged at the opening bell, causing a panic.