Which trading venue closed for ten days after the 1873 U.S. financial panic?

The New York Stock Exchange closed for ten days after the 1873 U.S. financial panic.

The closure followed the failure of Jay Cooke & Company in September 1873. The firm had been a major financier of railroads and government bonds, and its collapse caused a loss of confidence across banks, railway companies, and investors. Trading on the exchange was suspended to contain disorder and pressure on the financial system.

The Panic of 1873 was part of a wider international crisis that had already erupted in Vienna. After the New York exchange reopened, falling prices and business failures continued, contributing to the prolonged downturn known as the Long Depression.

The ten-day closure is often overlooked because later crashes are remembered through dramatic percentage losses. It illustrates how exchanges once responded to financial emergencies by stopping trading entirely, rather than relying on the modern circuit breakers and liquidity facilities used in later crises.