What was the name of the 1873 market panic that helped begin the Long Depression?

The 1873 market panic that helped begin the Long Depression was the Panic of 1873.

The crisis began in Vienna in May 1873 and spread to other financial centers, including New York. In the United States, the failure of the banking firm Jay Cooke & Company in September helped trigger a severe loss of confidence. Jay Cooke had financed railroads and government debt, and its collapse exposed weaknesses in speculative railroad investment.

The New York Stock Exchange closed temporarily for the first time, from September 20 to September 29, 1873. Bank failures, falling prices, and reduced investment followed. The resulting international downturn is commonly called the Long Depression, although its timing and severity varied by country.

The event is sometimes described as the first major global financial crisis of the industrial age. It is also easily confused with the Panic of 1893, another U.S. banking and railroad crisis. The Panic of 1873 was closely connected to railroad expansion, German and Austrian financial instability, and the post-Civil War investment boom.