The sharp 1962 U.S. stock-market decline was nicknamed the Kennedy Slide.
The Kennedy Slide unfolded during the first half of 1962, when the U.S. stock market suffered a severe correction after the strong gains of the late 1950s and early 1960s. The Dow Jones Industrial Average fell about 26.5% from its December 1961 peak to its June 1962 low.
The name reflected investor anxiety about policies associated with President John F. Kennedy, including his administration’s confrontation with major corporations over steel prices. Other pressures included slowing economic growth, concerns about inflation, and geopolitical uncertainty during the Cold War.
The episode is not usually classified as a depression or a banking collapse. It was a major stock-market correction that ended with a sharp rebound later in 1962. The nickname can be confused with later market declines associated with other presidents, but Kennedy Slide is the established name for this episode.