MARKET HISTORY ARCHIVE

The Museum of
Financial Crises

A curated collection of the world's most devastating market crashes. Study the patterns of greed, fear, and leverage that repeat through history.

1636

Tulip Mania

The first recorded speculative bubble where tulip bulbs reached prices of houses.

ImpactPrices collapsed 90-99%

LessonAsset prices can detach completely from intrinsic value.

1720

South Sea Bubble

A stock speculation mania in Britain involving the South Sea Company and its monopoly on trade with South America.

ImpactShares plummeted 84%, ruining thousands including Isaac Newton.

LessonGovernment backing doesn't guarantee legitimacy.

1837

Panic of 1837

A financial crisis in the US touched off by a speculative fever in land, canals, and cotton.

ImpactSix-year depression, 40% of banks failed.

LessonInterconnected speculation creates systemic vulnerability.

1873

Panic of 1873

Triggered by the collapse of Jay Cooke & Company due to railroad over-expansion.

ImpactLong Depression, 89 railroads bankrupt.

LessonInfrastructure booms can create overcapacity and debt.

1929

The Great Depression

The worst economic downturn in the history of the industrialized world.

ImpactGlobal GDP -15%, US unemployment 25%.

LessonLeverage magnifies losses; policy response matters.

1987

Black Monday

The largest one-day percentage decline in stock market history.

ImpactDow fell 22.6% in one day.

LessonTechnology can create unexpected vulnerabilities.

1997

Asian Financial Crisis

A sequence of currency devaluations and other events that spread through many Asian markets.

ImpactCurrencies fell 30-80%, massive GDP contractions.

LessonFixed exchange rates with open capital flows are risky.

2000

Dot-Com Bubble

A historic economic bubble and period of excessive speculation in Internet-related companies.

ImpactNasdaq fell 78%, $5 trillion lost.

LessonRevolutionary tech doesn't exempt need for profits.

2007

Global Financial Crisis

The most serious financial crisis since the Great Depression, driven by the housing bubble.

ImpactGlobal recession, housing crash, bank bailouts.

LessonFinancial innovation without regulation creates systemic risk.

2022

Crypto Crash

A major downturn in cryptocurrency markets following the 2021 boom.

ImpactMarket cap fell 73%, massive fraud exposed.

LessonHigh returns usually mean high risk.

The Museum of Financial Crises