Which European stock exchange crash of 1873 gave its name to the opening phase of the Long Depression?

The Vienna Stock Exchange crash of 1873 gave its name to the opening phase of the Long Depression.

On 9 May 1873, panic selling hit Vienna’s stock exchange after a period of intense speculation in shares and property. The collapse followed the boom associated with Austria-Hungary’s rapid economic expansion and the building activity surrounding the 1873 Vienna World’s Fair. Several banks and companies failed or came under severe pressure.

Financial stress soon spread internationally. The United States experienced a major panic later in 1873, while Germany and other economies also suffered from falling investment and industrial contraction. The downturn became known as the Long Depression, although historians differ over its exact duration and severity in different countries.

The Vienna crash is sometimes confused with the U.S. Panic of 1873 because both occurred in the same year. They were connected through international capital markets, but they were separate national episodes within a broader transatlantic crisis.