The event that sparked the French Revolution in 1789 was the financial crisis faced by the French monarchy, exacerbated by extravagant spending and involvement in foreign wars, notably the American Revolution. By 1789, France was deeply in debt, and King Louis XVI's attempts to reform taxation faced opposition from the nobility. The situation escalated when the Estates-General was convened in May 1789, leading to the formation of the National Assembly by the Third Estate, which consisted of commoners. This collective discontent erupted into the Storming of the Bastille on July 14, 1789, symbolizing the uprising against royal authority and bringing revolutionary fervor that transformed France.