Der Krach: The Vienna stock exchange crash begins the Panic of 1873 and heralds the Long Depression.

The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain. In Britain, the Panic started two decades of stagnation known as the "Long Depression" that weakened the country's economic leadership. In the United States, the Panic was known as the "Great Depression" until the events of 1929 and the early 1930s set a new standard.

The Wiener Börse AG is a bourse situated in Vienna, Austria. The exchange owns and operates the Prague Stock Exchange, and holds stakes in energy exchanges and clearing houses. It provides market infrastructure to other exchanges in Central, Eastern, and Southeastern Europe, and collects and distributes stock market data and calculates the most important indices of the region. The Austrian Traded Index (ATX), the leading index of Wiener Börse, tracks the price of its blue chips in real time. The ATX composition is updated every March and September, mainly based on a stock's capitalized free float and trading volumes. The Vienna Stock Exchange also maintains a market for fixed income securities, with more than 13,000 active bonds from 38 countries and a total volume of €720bn as at May 2023.

The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1899, depending on the metrics used. It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War. The episode was labeled the "Great Depression" at the time, and it held that designation until the Great Depression of the 1930s. Though it marked a period of general deflation and a general contraction, it did not have the severe economic retrogression of the later Great Depression.