What were the effects of the crash on the economy of the United states and the world?

The crash of 1929 led to the Great Depression, resulting in widespread unemployment, plummeting consumer confidence, and a severe contraction of the economy in the United States and globally. Banks failed, businesses closed, and international trade diminished, causing a ripple effect that exacerbated economic hardships worldwide. In the U.S., GDP fell drastically, and millions lost their jobs and savings, while other countries experienced similar economic turmoil, leading to political instability and significant social unrest. The aftermath prompted major changes in economic policy and regulation, including the New Deal in the U.S. aimed at recovery and reform.