What was the 1973–1974 global stock-market collapse associated with the oil crisis called?
Answer
1973–1974 stock market crash
Answer
1973–1974 stock market crash
The global stock-market collapse associated with the oil crisis was the 1973–1974 stock market crash.
The downturn followed the end of the long postwar expansion and coincided with high inflation, slowing economic growth, and the 1973 oil crisis. The Yom Kippur War and an Arab oil embargo helped drive energy prices higher, while many economies experienced stagflation, a difficult combination of inflation and weak growth.
In the United States, the Dow Jones Industrial Average fell substantially from its January 1973 high to its December 1974 low. Equity markets in other countries also suffered, making this a broad international bear market rather than an isolated exchange failure.
The crash is sometimes remembered only as an oil shock, but several forces were involved, including monetary conditions, inflation, recession, and geopolitical uncertainty. Its combination of falling share prices and rising consumer prices made the period especially difficult for investors.
Source: Wikipedia · fact-checked Oct. 2026