Stock market crashed in 1929, economic situation went downhill from there and unemployment went sky high, by 1933, 1 out of 3 non-farm workforce lost job.
No country in the world was excluded. It's a global great depression that lasted more than 10 years.
Be optimistic, I don't think we will get there this time. But a severe down turn should be expected and we haven't seen half of the worst yet.