The U.S. financial panic of 1907, which triggered a major Wall Street sell-off, was called the Panic of 1907.
The crisis began in October 1907 after an unsuccessful attempt to corner the stock of United Copper Company caused a run on several trust companies in New York. Trust companies were important financial intermediaries but held fewer cash reserves than commercial banks, making them vulnerable when depositors demanded withdrawals.
J. P. Morgan organized private bankers to provide emergency liquidity and prevent the panic from spreading. His intervention helped stabilize the banking system, but the episode exposed weaknesses in the United States' fragmented financial structure.
The Panic of 1907 directly influenced the creation of the Federal Reserve System in 1913. It is sometimes confused with the Panic of 1893, another severe U.S. financial crisis, but the two occurred in different decades and had different immediate triggers.