The sharp U.S. stock-market drop of May–June 1962 is commonly called the Kennedy Slide.
The decline occurred during a broader bear market and was named for President John F. Kennedy, although it was not caused by a single presidential decision. The Dow Jones Industrial Average fell about 23% from its December 1961 high to its June 1962 low.
Several pressures contributed to the sell-off, including slowing economic growth, concerns about corporate profits, international tensions, and investor anxiety after earlier market advances. The collapse became particularly dramatic on 28 May 1962, when the Dow suffered one of its largest point losses up to that time.
The Kennedy Slide is sometimes confused with the 1962 Cuban Missile Crisis, but the market decline began months before that October confrontation. It also predates the bear markets associated with the 1973–1974 oil crisis and the 1987 global crash.