n. A grass of the genus Panicum.[capitalized] Of or pertaining to the god Pan: as, Bacchic and Panic figures.Inspired or as if inspired by Pan: applied to extreme or sudden fright: as, panic fear.n. A sudden fright, particularly a sudden and exaggerated fright affecting a number of persons at once; terror without visible or appreciable cause, or inspired by a trifling cause or by misapprehension of danger.n. Specifically An exaggerated alarm which takes possession of a trading community on the occurrence of a financial crisis, such as may be caused by the failure of an important bank, or the exposure of a great commercial swindle, inducing a general feeling of distrust, and impelling to hasty and violent measures to secure immunity from possible loss, thus often precipitating a general financial disaster which was at first only feared.