The Kennedy Slide was the nickname given to the sharp 1962 US stock-market decline during John F. Kennedy’s presidency.
The decline began in late 1961 and accelerated in the first half of 1962. Investors worried about slowing economic growth, high valuations, and uncertainty surrounding corporate earnings. A major catalyst was the Kennedy administration’s confrontation with the steel industry in April 1962, when steel companies raised prices after negotiating wage increases and the administration publicly opposed the move.
The Dow Jones Industrial Average fell about 26.5% from its December 1961 peak to its June 1962 low. The episode is called the Kennedy Slide because it occurred during Kennedy’s administration, not because the president caused every underlying market problem. The market later recovered, and the decline is generally remembered as a correction rather than a prolonged depression.