The Wall Street Crash of 1929 was disastrous for not only the American economy, but for the world economy.
Examples from the Corpus
recession• About one-fifth of the economists see a recession under way by the time of the presidentialelection this November.• Yet the currentrecession is far from average.• Banks' need for capital is greatest when economies are in recession and borrowers can not service their loans.• The economy is in recession and will remain so for at least another year.• First, it could turn slowdowns into recessions and average recessions into more severe ones.• In times of severe recessioncompanies are often forced to make massivejobcuts in order to survive.• First, there is the recession.• The carindustry, like most other industries, is feeling the effects of the recession.• The first is that the recession they have caused and which so nearly ditched them will not go away automatically.• the recession of the 1980s• The reduction to recessionhappens when there is too much in the engram bank suppressing the incident.