What caused the economic panics in the 1800s

The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the interconnectedness of the world economy by the 1850s, the financial crisis that began in late 1857 was the first worldwide economic crisis.

basically, it was a financial panic in the United States that was caused by the declining international economy. which caused a "panic", thus getting its name.