The 1637 Dutch tulip-market collapse is commonly called Tulip mania.
During the Dutch Golden Age, tulip bulbs became fashionable luxury goods, and contracts for bulbs were traded at rapidly rising prices. In early 1637, demand weakened and a speculative market collapsed, leaving some contracts difficult to honor.
Later popular accounts portrayed the episode as a nationwide frenzy in which ordinary people lost fortunes. Historians now caution that the market was concentrated in particular contracts and communities, and that its damage to the broader Dutch economy was probably limited.
Tulip mania remains important as an example of speculative behavior, but it is not identical to a modern stock-market crash. Tulip bulbs are physical commodities, whereas the 1929 and 1987 crashes involved organized securities markets.