The 1873 financial crisis associated with the Vienna Stock Exchange collapse was the Panic of 1873.
On 9 May 1873, known as Black Friday in Austria, a speculative boom in railway and property companies ended in Vienna. Share prices plunged, banks and businesses failed, and the shock spread through European financial markets. The crisis soon reached the United States, where the failure of the banking firm Jay Cooke & Company contributed to a suspension of trading on the New York Stock Exchange.
The panic marked the beginning of a prolonged international downturn often called the Long Depression. The exact duration and severity of that depression remain subjects of historical debate, but deflation and weak investment lasted for years in several economies.
It is distinct from the Panic of 1873 in the United States as a separate local event: the same name describes the connected international crisis, with Vienna as one of its earliest dramatic centers.