Place Depression turned against America (5)
I believe the answer is:
locus
'place' is the definition.
(thesaurus)
'depression turned against america' is the wordplay.
'depression' becomes 'col' (geographical term for a low point**).
'turned' is a reversal indicator.
'against' is a charade indicator (letters next to each other).
'america' becomes 'us' (abbreviation for the United States).
'col' written backwards gives 'loc'.
'loc'+'us'='LOCUS'
(Other definitions for locus that I've seen before include "insect" , "A defined position" , "line" , "Venue" , "Place of occurrence" .)