What name is commonly given to the 1873 financial crisis that began in Vienna?

The 1873 financial crisis that began in Vienna is commonly called the Panic of 1873.

The crisis erupted in May 1873 when the Vienna Stock Exchange crashed. Financial stress then spread through Europe and reached the United States, where the failure of the banking firm Jay Cooke & Company in September helped trigger a severe panic. The resulting downturn was followed by a long period of weak growth often called the Long Depression.

Railway speculation, excessive investment, falling prices, and fragile banking conditions contributed to the crisis. In the United States, overbuilding of railroads had created debts and companies whose earnings could not support their valuations. The New York Stock Exchange temporarily closed during the panic.

The name can be confusing because economic historians debate how long the associated depression lasted and how severe it was in different countries. It is also distinct from the Panic of 1893, another U.S. financial crisis involving railroad failures and banking distress.