Historical Events tagged with "Jay Cooke"

Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.

Economics & Industry

Jay Cooke & Company Bankruptcy Sparks Panic

September 18th, 1873 151 years ago

The bankruptcy of Jay Cooke & Company, a prominent banking institution in the United States, triggered a financial crisis known as the Panic of 1873. The firm, heavily invested in railroad bonds, was unable to sustain its operations following a series of failed investments and declining profits. This event caused widespread fear among investors and depositors, leading to a run on banks and the failure of numerous financial institutions across the country. The consequences of this collapse reverberated throughout the U.S. economy, exacerbating an already fragile economic landscape.

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