During the 1914 financial crisis, the New York Stock Exchange remained closed for four months.
The NYSE shut on 31 July 1914 as World War I began and international financial markets became dangerously unstable. Officials feared disorderly selling, gold outflows, and pressure on the banking system. The closure was an exceptional interruption to normal US securities trading.
The exchange partially reopened for bond trading on 28 November 1914 and resumed stock trading on 12 December 1914. The shutdown therefore lasted roughly four and a half months for the stock market, commonly summarized as four months.
The crisis also affected foreign-exchange markets and international payments. The reopening helped restore organized trading, while the Federal Reserve, created in 1913, was available to provide a stronger central banking framework than the United States had possessed during earlier panics.