The Dutch Tulip Mania of 1637 was the world's first bubble

Between 1634 and 1637, tulip bulb prices in the Netherlands rose to extraordinary heights — a single Semper Augustus bulb reportedly sold for the equivalent of a skilled craftsman's annual salary. The bubble was partly driven by futures contracts that allowed speculation without owning the bulbs. When prices collapsed in February 1637, thousands of investors were ruined overnight. Economists debate its scale, but Tulip Mania remains the canonical example of speculative excess and the madness of crowds.

Source: Mackay, Extraordinary Popular Delusions and the Madness of Crowds (1841)