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Financial panic
A sudden loss of confidence in the financial system, causing widespread attempts to sell stocks and bonds and withdraw funds from banks, often stimulated by a large financial entity (speculator, bank, etc. ) making a large loss and defaulting on commitments.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
- Product:
- Acronym-Abbreviation:
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