The Panic of 1907 – also known as the 1907 Bankers' Panic or Knickerbocker Crisis – was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year. Panic occurred, as this was during a time of economic recession, and there were numerous runs on banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and ...
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Panic of 1893: 1893: Panic of 1896: 1896: Panic of 1901: 17 May 1901: Lasting 3 years, the market was spooked by the assassination of President William McKinley in 1901, coupled with a severe drought later the same year. Panic of 1907: Oct 1907
The Panic of 1907, also known as the 1907 Bankers' Panic, was a financial crisis that occurred in the United States when the New York Stock Exchange fell close to 50 percent from its peak the previous year. Panic occurred during a time of economic recession, when there were numerous runs on banks and trust companies.
1907 was a common year starting on Tuesday of the Gregorian calendar and a common year starting on Monday of the Julian calendar, the 1907th year of the Common Era (CE) and Anno Domini (AD) designations, the 907th year of the 2nd millennium, the 7th year of the 20th century, and the 8th year of the 1900s decade.
Panic of 1907 In 1907, its funds were being used by then-president Charles T. Barney in a plan to drive up the cost of copper by cornering the market . This gamble came undone due to the dumping of millions of dollars in copper into the market to stop a hostile takeover in an unrelated organization.
Panic is a sudden sensation of fear, which is so strong as to dominate or prevent reason and logical thinking, replacing it with overwhelming feelings of anxiety and frantic agitation consistent with an animalistic fight-or-flight reaction.
The Panic of 1901 was the first stock market crash on the New York Stock Exchange, caused in part by struggles between E. H. Harriman, Jacob Schiff, and J. P. Morgan/James J. Hill for the financial control of the Northern Pacific Railway.
Between September 1906 and March 1907, the stock market slid, losing 7.7% of its capitalization. Between March 9 and 26, stocks fell a further 9.8%. (This March collapse is sometimes referred to as a "rich man's panic".) The economy remained volatile through the summer.
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