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Stock Market Crash and Bank Runs
- When
- September–October 1873
- Where
- New York Stock Exchange
Equities plummeted on the New York Stock Exchange, causing a chain reaction of bank runs and failures throughout the United States.
When the New York Stock Exchange heard the announcement of Jay Cooke & Company's failure, equities plummeted. This caused a chain reaction of bank runs and failures throughout the United States, signaling the arrival of the Panic of 1873. Bank reserves in New York City plummeted from $50 million to $17 million between September and October 1873.
Sources
- Jay Cooke & Company Wikipedia, revision of 2026-10-07
- Panic of 1873 Wikipedia, revision of 2026-10-07
Machine-drafted from the cited Wikipedia passages and checked by a reviewing model, not by a human editor. Every passage cites the revision it was written from; dates and places follow those passages.