The crash of 1929 occurred after World War I. After the war, wages, production, and consumption rates all increased. This caused many to invest money in stocks. The crash happened on Black Thursday, October 24, 1929. On that day, stocks plummeted, leading to many losing lots of money, some lost all of their savings. After the crash of 1929, there was a decline in business activities, wages declined, and unemployment rates increased. Layoffs, production decline, and business failures all increased because of this. During the war, many depended on American goods and money to continue fighting. When the United States began to decline, so did the rest of the world.