What was the 1973–1974 global bear market associated with the oil shock commonly called?

The 1973–1974 global bear market associated with the oil shock was called the 1973–74 stock market crash.

The crash unfolded amid inflation, slowing economic growth, political uncertainty, and the energy crisis that followed the Yom Kippur War. In October 1973, Arab members of OPEC announced an oil embargo against countries viewed as supporting Israel. Oil prices rose sharply, intensifying pressure on businesses and consumers.

In the United States, the Dow Jones Industrial Average fell about 45% from its January 1973 peak to its December 1974 low. The decline was part of a wider international bear market, not simply a reaction to one day’s trading.

The period is closely associated with stagflation: weak growth combined with high inflation. It is sometimes confused with the 1970 recession, but the stock-market crash extended across 1973 and 1974.