Editing Stock market crash (section)

===Panic of 1907===   
{{Main|Panic of 1907}}
In 1907 and in 1908, stock prices fell by nearly 50% due to a variety of factors, led by the manipulation of [[copper]] stocks by the [[Knickerbocker Trust Company]].<ref>{{cite news | url=https://trove.nla.gov.au/newspaper/article/41473783 |title=American Banks  'In The Jungle'. | newspaper=[[The Advertiser (Adelaide)|The Advertiser]] | location=Adelaide | date=March 16, 1933 | page=8 | via=[[National Library of Australia]]}}</ref> Shares of [[United Copper]] rose gradually up to October, and thereafter crashed, leading to panic.<ref name=FDS-H-05>{{Cite web | url=https://www.minneapolisfed.org/article/1988/born-of-a-panic-forming-the-fed-system | title=Born of a Panic: Forming the Fed System | publisher=[[Federal Reserve Bank of Minneapolis]]}}</ref><ref name=FDS-H-06>{{cite magazine | url=https://www.smithsonianmag.com/history/the-financial-panic-of-1907-running-from-history-82176328/ | title=The Financial Panic of 1907: Running from History | last=Tucker | first=Abigail | magazine=[[Smithsonian Magazine]] | date=October 9, 2008}}</ref> Several investment trusts and banks that had invested their money in the stock market fell and started to close down. Further bank runs were prevented due to the intervention of [[J. P. Morgan]].<ref>{{cite web | url=https://u-s-history.com/pages/h952.html | title=Panic of 1907: J.P. Morgan Saves the Day}}</ref> The panic continued to 1908 and led to the formation of the [[Federal Reserve]] in 1913.<ref>{{cite book | url=https://www.hbs.edu/faculty/Pages/item.aspx?num=24079 | last1=NO | first1=Tom | title=Stock market swings and the value of innovation | publisher=[[Harvard Business School]] | location=[[Boston]] }}</ref>