What name is given to the severe U.S. market decline from 1973 to 1974?

The severe U.S. market decline from 1973 to 1974 is called the 1973–1974 stock-market crash.

The fall occurred during a period of inflation, energy disruption, recession, and political uncertainty. The 1973 oil crisis began after Arab members of OPEC announced an oil embargo against countries supporting Israel during the Yom Kippur War. Oil prices rose sharply, worsening inflation and economic pressure in many industrial nations.

The Watergate scandal and President Richard Nixon’s resignation in August 1974 added to investor uncertainty in the United States. From its 1973 peak to its 1974 low, the Dow Jones Industrial Average lost roughly 45% of its value.

This episode is distinct from the 1970s oil shock itself: the oil shock was an economic cause, while the stock-market crash describes the market decline. The period also helped end the postwar era of relatively stable economic growth.