The Great Depression was not only caused by the 1929 stock market crash, but it certainly hasten the global economic downturn of which it was also a symptom.
Through 1932, when the Dow Jones Industrial Average, a widely-used barometer for American blue-chip stocks, closed at 41.22, the lowest value of the 20th century and 89 percent below its peak, stock values continued to decline.
By 1933, over half of the American banks had collapsed, and the country's labor force, or 15 million individuals, was either unemployed or underemployed. It would take the Dow Jones Industrial Average until November 1954, or almost 25 years later, for the index to reach its pre-1929 highs.
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