The beginning of the first world economic crisis, which hit all the developed countries of the world in 1929-1933. On Friday, October 25, 1929, the total amount of the fall in stock prices that occurred on the New York Stock Exchange was revealed in Europe. The loss from this slump was estimated at $50 billion. The term 'Black Friday' is also used in connection with the big fall in share prices on 13 October 1989.