What is the standard name for the worldwide stock-market decline of 1973–1974?

The worldwide stock-market decline of 1973–1974 is known as the 1973–1974 stock market crash.

The crash affected many major markets during a period of inflation, recession, and energy turmoil. In the United States, the Dow Jones Industrial Average fell from its January 1973 peak to a low in December 1974, losing roughly 45% of its value. The S&P 500 experienced a similarly severe decline.

The 1973 oil crisis was a major part of the background. Arab members of OPEC imposed an oil embargo on countries seen as supporting Israel during the Yom Kippur War, and oil prices rose sharply. Higher energy costs fed inflation and weakened economic activity. The collapse of the Bretton Woods monetary system and political scandals, including Watergate, added to investor uncertainty.

Although the oil crisis helped trigger the downturn, it was not the only cause. The crash is sometimes grouped with the broader 1970s bear market, but the standard historical reference specifically identifies the 1973–1974 stock market crash.