The 1973–1974 stock-market crash followed which major energy shock?

The 1973–1974 stock-market crash followed the 1973 oil crisis.

In October 1973, Arab members of OPEC and several allied oil producers imposed an embargo on countries seen as supporting Israel during the Yom Kippur War. Oil prices rose sharply, creating inflation, fuel shortages, and severe economic uncertainty in many industrialized countries.

Stock markets were already vulnerable because of inflation, slower growth, and the end of the postwar economic expansion. The energy shock then weakened corporate profits and consumer spending, contributing to a prolonged bear market. In the United States, the Dow Jones Industrial Average fell substantially from its January 1973 peak to its December 1974 low.

The crash is sometimes confused with the separate 1979 oil crisis, which followed the Iranian Revolution. The 1973 shock was earlier and was closely connected to the geopolitical events of the Yom Kippur War.