The United States experienced the 1914 stock-market closure that lasted until December during World War I.
The New York Stock Exchange closed on July 31, 1914, after war broke out in Europe. Officials feared panic selling and disruption from the sudden financial uncertainty. The closure lasted until December 12, 1914, making it one of the longest interruptions in the exchange’s history.
The shutdown was not a conventional crash caused by one dramatic percentage fall. It was an emergency response to wartime conditions, including fears about foreign investors selling American securities and uncertainty over international payments. When trading resumed, prices were managed under special rules, and the exchange gradually returned to normal operations.
This episode is often confused with later wartime market crashes or with the 1929 Wall Street Crash. The key fact is that the New York exchange closed because of the outbreak of World War I, while the 1929 market remained open during its famous sell-off.