The Wall Street Crash had important consequences. Why was the Wall Street Crash important for the USA?

Level 4 Explains TWO reasons
Level 3 Explains ONE reason
(Four marks for one explanation, five marks for full explanation)
e.g. 'The Wall Street Crash was important because of the effect it had on the American economy. The fall in share prices led to a loss of confidence and this led to a fall in demand for goods. Businesses had to cut production and this led to people losing their jobs or having their wages cut. This led to even more of a fall in demand because people did not have money to spend.'

Level 2 Identifies AND / OR describes reasons
(One mark for each identification/description)
e.g. 'It led to bank failures.'
'It led to people losing their jobs.'
'It led to a fall in demand for American goods.'
'It led to people being evicted because they could not pay their rents.'
'It was important because it caused businesses to fail.'
'It caused much poverty.'
'It led to people losing money they had invested.'
Level 1 General answer lacking specific contextual knowledge
e.g. 'It was important because it had an enormous effect on everybody's lives in the USA.'

Level 0 No evidence submitted or response does not address the question