The 1962 U.S. stock-market decline linked to economic fears and rising Cold War tensions was called the Kennedy Slide.
The Kennedy Slide took place during the first half of 1962, when U.S. share prices fell sharply after a long period of postwar gains. The Dow Jones Industrial Average reached a high in December 1961 and then declined through June 1962. The slump reflected concerns about slower economic growth, corporate earnings, inflation, and international political tension.
The episode received its name because it occurred during John F. Kennedy's presidency, not because the president caused a single-day crash. It was a sustained market decline rather than one dramatic trading session such as Black Monday in 1987.
The 1962 decline is also associated with the so-called “flash crash” on 28 May, when the Dow dropped 5.7 percent. The market later recovered, and the episode did not produce a prolonged depression.