The financial crisis that followed the Vienna Stock Exchange crash and spread across Europe and the United States was the Panic of 1873.
The Vienna market crashed in May 1873 after a period of speculative investment and rapid railway expansion. Financial distress soon appeared in other European markets. In the United States, the failure of Jay Cooke & Company in September helped trigger a banking panic and the temporary closure of the New York Stock Exchange.
The crisis contributed to a long period of economic weakness often called the Long Depression. Falling prices, bankruptcies, unemployment, and pressure on banks affected industrial economies for years, although the timing and severity differed by country.
The Panic of 1873 is distinct from the Panic of 1893 and the Panic of 1907. Those later crises had different immediate triggers, even though all involved banking and financial-market stress.