What name was given to the 1973–1974 global stock-market collapse?

The global stock-market collapse of 1973–1974 is known as the 1973–1974 stock market crash. It was a major bear market that affected the United States, the United Kingdom, and other financial centers.

The decline unfolded amid the 1973 oil crisis, high inflation, recession, and political uncertainty. In the United States, the Watergate scandal further damaged investor confidence. The combination of falling share prices and rising consumer prices created a difficult environment for companies and households.

The Dow Jones Industrial Average reached a high in January 1973 and fell substantially before reaching its low in December 1974. The crash was not simply a reaction to one trading session; it developed over many months as economic and geopolitical pressures accumulated.

It is often linked with the oil crisis, but the terms are not synonyms. The oil crisis describes energy-supply and price shocks, while the 1973–1974 crash describes the associated market collapse. Both events contributed to the era’s broader economic turmoil.