The 1873 financial panic that helped trigger the Long Depression was called the Panic of 1873.
The crisis began in Europe after the Vienna stock-market crash in May 1873 and spread to the United States later that year. In September, the failure of the investment firm Jay Cooke & Company shook confidence in American railroads and finance. The New York Stock Exchange temporarily closed for the first time in its history, from September 20 to September 29, 1873.
The Panic of 1873 is closely associated with the Long Depression, a period of weak prices, falling profits, and high unemployment that lasted for years. Historians debate the exact dates and global causes of the depression. It is sometimes confused with the separate Panic of 1893, another major U.S. financial crisis caused partly by railroad failures and banking stress.