The steep U.S. stock-market decline that began in December 1961 and ended in June 1962 was called the Kennedy Slide.
The decline occurred during the presidency of John F. Kennedy and followed a strong rise in share prices during the early 1960s. The Dow Jones Industrial Average fell substantially from its December 1961 high to its June 1962 low, with selling pressure affecting many large U.S. companies.
The downturn was linked to concerns about economic growth, corporate profits, inflation, and government policy. A prominent episode involved the so-called “flash crash” on May 28, 1962, when the Dow suffered a particularly sharp intraday and closing decline.
The Kennedy Slide is not the same event as the 1962 steel crisis, although the administration’s confrontation with steel companies contributed to market uncertainty. The market recovered after reaching its June low.