Which 1720 speculative bubble is often considered the first major stock-market crash in Britain?

The South Sea Bubble was the 1720 speculative bubble often considered Britain's first major stock-market crash. It centered on the South Sea Company, whose shares rose dramatically before collapsing.

The company received a government-backed monopoly over trade with Spanish South America, although its realistic trading prospects were limited. Investors were attracted by promotional claims, easy credit, and the chance to profit from rapidly rising shares.

When confidence broke, the collapse ruined many investors and affected prominent figures, including Isaac Newton. The South Sea Bubble occurred alongside France's Mississippi Bubble, but the two were separate schemes and should not be treated as the same event.