Historical Events tagged with "panic"

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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Economics & Industry

The Panic of 1857 Starts Economic Downturn

August 24th, 1857 167 years ago

The Panic of 1857 was a significant economic downturn triggered by a collapse in the railroad market and a decline in European demand for U.S. goods. It began in the northern states, primarily affecting banks and businesses that relied heavily on credit. This financial panic led to widespread bank failures and a sharp increase in unemployment rates. By the fall, the economy experienced a severe contraction, marking it as one of the first major global economic crises involving the United States.

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