In america this caused a rapid downfall in economics. No one was buying anything, people were being laid off of jobs causing less money to be in the consumer class, banks closed meaning people lost a lot of there money and the stock market was at rock bottom and frozen due to its reliance on credit which at this point was completely gone.
Germany was far behind in its debts to the world war powers it had lost to. To combat this it was using credit from american banks to pay of the debts. When the credit in america ended germany could no longer pay causing it to quickly lose money.
As the effects of The Global Depression began to take hold great britain saw a sharp decline in its economy. Its trades with america became to decrease as tariffs were placed on american imports which caused global trade to come to stop with only a few imports and exports trickling in.
The new deal was instituted by roosevelt and allowed the american people to have relief, recovery, and reform. These three items was the goals of the plan in order to recover from the depression and to prevent it from happening again.