US businesses close after stock market crash of 1929

The transcript describes a dramatic economic collapse where $50 billion vanished, leading to a market crash that turned wealthy individuals into paupers overnight. Industries halted, and real estate and business assets became worthless. The dollar gained immense value, but was scarce among the unemployed. This economic downturn marked the onset of the most severe depression in history.

Describe the impact of the economic situation on employment.

What does the text suggest about the severity of the depression that followed the market collapse?