The Great Depression (1929-39) was the longest lasting and deepest economic depression in the history of the modern industrial world. It started after the U.S. stock market crash in 1929. The prices on the Wall Street stock market fell from October 24 to October 29, 1929. It sent Wall Street into a panic. Millions of investors were financially ruined. By 1933 nearly half the banks in the United States had failed and between 13 and 15 million Americans were unemployed. The beginnings of World War II in Europe ended the depression. The Great Depression affected countries worldwide. Unlike previous depressions in which a few countries were hurt, the Great Depression was felt by nearly all industrialized countries. Africa, Asia, Australia, Europe, and North and South America all suffered. Countries tried to protect their own economies by raising tariffs on goods they imported into their countries. This caused world trade to fall by some 30 percent. An estimated 30 million people were unemployed worldwide by 1932. 