What was the main stock exchange in New York when the Panic of 1907 struck?
Answer
New York Stock Exchange
Answer
New York Stock Exchange
The main stock exchange in New York when the Panic of 1907 struck was the New York Stock Exchange.
The Panic of 1907 was a severe financial crisis involving bank runs, falling share prices, and a shortage of liquidity. It was intensified by the failed attempt to corner the stock of United Copper Company, which helped trigger withdrawals from institutions connected to the scheme.
The New York Stock Exchange fell sharply during the panic, while trust companies faced runs and struggled to meet demands for cash. Financier J. P. Morgan coordinated private-sector support, persuading banks and wealthy financiers to provide funds and stabilize vulnerable institutions.
The crisis exposed weaknesses in the U.S. financial system, which lacked a central bank capable of acting as a lender of last resort. The Federal Reserve System was created in 1913, and the Panic of 1907 is commonly cited as an important influence on that reform.
Source: Wikipedia · fact-checked Oct. 2026