Final answer:
The Great Depression started in 1929 with the Wall Street crash, a crucial event that was influenced by multiple economic factors and ultimately resulted in widespread financial turmoil and a decade of severe hardship.
Step-by-step explanation:
The Wall Street crash that triggered the onset of the Great Depression occurred in the year 1929. This catastrophic event began with a sharp decline in stock values on October 24, 1929, which spiraled into a prolonged economic downturn. The stock market crash, while a significant tipping point, was not the sole cause of the Great Depression. Numerous factors, such as the unstable economic policies of the time, international financial troubles, and the widespread practice of speculation, combined to create a perfect storm of economic failure.
The prosperity of the 1920s gave way to despair as banks called in loans, industries halted, and unemployment soared. The austerity measures adopted by governments further exacerbated the crisis, leading to a decade of hardship and poverty for millions.