The 1873 financial panic that spread from Vienna to the United States was called the Panic of 1873.
The crisis began after the Vienna Stock Exchange crash in May 1873 and reached the United States later that year. In New York, the failure of the banking firm Jay Cooke & Company on 18 September helped trigger a banking panic. The New York Stock Exchange closed temporarily for the first time in its history, reopening on 30 September.
The panic was connected to speculative railway investment, excessive credit, and problems in European and American financial markets. In the United States, the downturn contributed to a long depression marked by business failures, falling prices, unemployment, and reduced construction.
The Panic of 1873 is sometimes called the Long Depression, although that term can refer to the wider economic downturn lasting through the 1870s and, in some countries, into the 1890s. It should not be confused with the separate Panic of 1893, which also involved railway failures and a major U.S. financial contraction.