What was the 1973–1974 global market decline, one of the worst bear markets since the Great Depression, called?

The 1973–1974 global market decline was called the 1973–1974 stock market crash.

The crash unfolded after a period of inflation, economic weakness, and political uncertainty. The collapse of the Bretton Woods monetary system and the 1973 oil crisis added to pressure on businesses and investors. The Watergate scandal also damaged confidence in the United States.

In the United States, the Dow Jones Industrial Average fell from its January 1973 high to a low in December 1974. The downturn was part of a wider bear market affecting major international exchanges, not just Wall Street.

The episode is sometimes described as a stagflation-era crash because high inflation occurred alongside weak economic growth and rising unemployment. It differs from the 1987 crash, whose most dramatic losses happened in a single day.