The 1873 financial crisis that began with a Vienna stock-market crash was called the Panic of 1873.
The crisis started with the Vienna Stock Exchange crash in May 1873, after years of rapid railway construction, property speculation, and easy credit. The shock spread to other financial centers, including New York, where the failure of the investment bank Jay Cooke & Company helped trigger a major panic in September.
The downturn produced bank failures, falling investment, and a prolonged period of weak prices and growth. In the United States, the resulting depression is often dated from 1873 to 1879, though the timing and severity varied by country.
The event is sometimes called the Long Depression, but historians use that label differently. Some apply it to the entire period of global weakness after 1873; others reserve it for the U.S. experience or distinguish it from later nineteenth-century downturns.