What nickname was given to the severe U.S. stock-market drop on May 28, 1962?

The severe U.S. stock-market drop on May 28, 1962, was nicknamed the Kennedy Slide.

The Kennedy Slide refers to the sharp decline in U.S. share prices during the spring of 1962. On May 28, the Dow Jones Industrial Average fell 5.7 percent, making the day one of the largest one-day percentage declines in its history at that time. The market remained under pressure through the period.

The episode occurred during a broader slowdown in investor confidence. Concerns included weaker corporate earnings, restrictive monetary conditions, and uncertainty about economic policy. The market’s decline was also amplified by heavy trading and the unwinding of optimistic valuations.

The name links the episode to President John F. Kennedy’s administration, but it does not mean that Kennedy personally caused a single-day crash. The event is distinct from the 1929 crash and from the 1987 Black Monday collapse, both of which involved much larger later market episodes.