The 1637 Dutch speculative bubble involving tulip bulbs is commonly called tulip mania.
Tulip prices rose dramatically in the Dutch Republic during the 1630s, particularly for rare varieties prized for their unusual colors and patterns. Contracts for bulbs were traded, and some buyers expected to resell them at higher prices. In February 1637, confidence failed and prices collapsed in several markets.
Tulip mania is frequently presented as the first great speculative bubble, although historians debate how broad the participation was and how severe the economic damage became. Modern scholarship has challenged older stories claiming that the entire Dutch economy was ruined. The episode was important mainly as an enduring example of contagious speculation and rapidly changing expectations.
It was not literally a stock-market crash: tulip bulbs are commodities, not shares in companies. The comparison is useful because the episode resembles later crashes in its leverage, enthusiasm and sudden loss of buyers.