The sharp 1962 U.S. stock-market decline was nicknamed the Kennedy Slide.
The decline occurred during the presidency of John F. Kennedy and is also called the Flash Crash of 1962. From late 1961 into June 1962, major U.S. indexes lost substantial value as investors worried about economic growth, inflation, interest rates, and corporate earnings.
The Dow Jones Industrial Average fell about 26.5% from its December 1961 peak to its June 1962 low. A notable single-day event occurred on May 28, 1962, when the Dow dropped 5.7%. The slide affected many blue-chip shares and damaged confidence in the market.
The name does not mean that Kennedy personally caused the crash. The episode involved broader economic and market forces, including monetary-policy concerns and a shift from growth-oriented optimism. It is also distinct from the 1962 steel crisis, although President Kennedy’s confrontation with the steel industry occurred during the same period.