Which U.S. stock exchange was the main venue of the 1907 panic?

The story behind the answer

The New York Stock Exchange was the main venue associated with the 1907 panic.

The Panic of 1907 began after a failed attempt to corner the stock of United Copper Company. When the scheme collapsed, depositors rushed to withdraw funds from banks and trust companies connected to the speculators. The panic spread through New York’s financial system and produced a severe contraction in lending and trading confidence.

The New York Stock Exchange became the most visible market institution during the turmoil. J. Pierpont Morgan organized private support for threatened banks and trusts, helping stabilize the system when the United States had no central bank capable of acting as a modern lender of last resort.

The crisis helped persuade American policymakers that the country needed a more formal central banking structure. The Federal Reserve System was created in 1913. A common mix-up is naming the Knickerbocker Trust Company as the exchange; it was a major failed trust company, while the NYSE was the stock-market venue.

Source: Wikipedia · fact-checked Oct. 2026

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