1. Millions of shares lost a lot of value
2. Large scale investors lost out, tried to sell shares
3. Investors lost money, people lost confidence and reduced spending
4. Businesses sold less, so made less money
5. Investors couldn't repay loans, many banks went bankrupt
6. Businesses received less from banks, cut jobs or reduced wages
7. Farmers and agriculture workers were affected due to dust bowls which ruined their land and crops