Which 1720 speculative bubble is widely regarded as the first major stock-market crash?

The South Sea Bubble of 1720 is widely regarded as one of the first major stock-market crashes.

The South Sea Company received a British government monopoly over trade with Spanish South America, although its actual commercial prospects were limited. Its shares rose spectacularly as investors were encouraged by promotional claims, easy credit, and the belief that prices would continue climbing.

The bubble burst later in 1720. Share prices collapsed, ruining many investors and causing political scandal in Britain. Parliament investigated the company's directors and associates, while prominent figures, including scientist Isaac Newton, suffered financial losses.

The Mississippi Bubble occurred in France around the same period and was another major speculative collapse. Tulip Mania was earlier and involved bulbs rather than shares in a joint-stock company. These events are often mentioned together, but the South Sea Bubble is the specific answer for the famous 1720 British stock-market episode.