Which stock exchange was at the center of the 1873 financial panic that helped trigger a long depression?
Answer
Vienna Stock Exchange
Answer
Vienna Stock Exchange
The Vienna Stock Exchange was at the center of the 1873 financial panic that helped trigger a long depression.
The panic began in Vienna on May 9, 1873, a day remembered as Black Friday. A speculative boom in property and securities had expanded after Austria-Hungary's economic liberalization and the 1873 Vienna World's Fair. When confidence broke, share prices collapsed and many banks and companies failed.
The shock spread from Austria-Hungary to Germany and then to other economies, including the United States. In the United States, the failure of the investment firm Jay Cooke & Company contributed to the closure of the New York Stock Exchange for several days in September 1873.
The resulting downturn is often called the Long Depression. Historians debate its exact duration and causes, but the Vienna crash is widely identified as the panic's opening financial event.
Source: Wikipedia · fact-checked Oct. 2026