panic
This term describes a state of acute distress where rational thinking is suspended in favor of instinctive, often chaotic, reactions. It carries a strong connotation of loss of control, whether experienced by a single individual or a collective group. In a social context, it often implies a contagious spread of fear that leads to irrational behavior, such as stampeding or mass selling. When used as a noun, the word can function as both a countable state (a panic attack) and an uncountable emotion. In financial contexts, it specifically refers to a systemic crisis of confidence that triggers a rapid collapse of asset values.
Meanings
A sudden overwhelming fear that prevents reasonable thought or action.
"A wave of panic swept through the crowd when the fire alarm rang."
A sudden widespread fear of financial collapse or a drop in stock prices leading to mass selling.
"The 1929 stock market panic led to a global economic depression."