The Panic of 1917 was a broad global economic panic felt most strongly in Europe, especially in France, but which also had profound effects worldwide. The panic gains its name from the November 1917 stock market crash in Paris, and a calling in of debts soon set off a near-global run on the bank and the sovereign defaults of multiple nations, sending the world's financial structure spiralling out of control. Deep depressions plagued several countries, and even other industrialized countries such as Ireland, the United States and Naples suffered through recessions and poor economic times in the ensuing years, with the United States' growth being especially slow in the 1920's.