Which event is widely considered the trigger for the Great Depression?

The stock market crash of 1929 is widely regarded as the trigger for the Great Depression due to its immediate and profound impact on the economy. The crash, which occurred in late October 1929, resulted in a dramatic loss of wealth for many individuals and businesses. As stock prices plummeted, confidence in the financial system eroded, leading to widespread panic among investors and consumers alike.

Additionally, this event initiated a chain reaction of economic problems, including reduced consumer spending and investment. Many businesses faced severe financial strain, leading to layoffs and bankruptcies, which further deepened the economic downturn. The consequences of the stock market crash were global, affecting economies around the world and leading to reduced international trade and bank failures, fueling the prolonged economic crisis known as the Great Depression.

While the collapse of international trade, bank failures, and shifts in consumer spending were significant factors in the continuation and worsening of the economic situation, the initial trigger that set everything into motion was indeed the stock market crash of 1929.