What was the 1973–1974 global stock-market collapse during an oil shock and recession called?

The 1973–1974 global stock-market collapse during an oil shock and recession was called the 1973–1974 stock market crash.

The crash followed years of inflationary pressure, economic weakness, and political uncertainty. The October 1973 oil embargo by Arab members of OPEC intensified the shock by contributing to a major rise in oil prices. Many economies then experienced recession alongside high inflation, a combination later known as stagflation.

In the United States, the Dow Jones Industrial Average fell substantially from its January 1973 high to its December 1974 low. Markets in the United Kingdom and other countries also suffered large declines. The Watergate scandal added to U.S. investor uncertainty, while the end of the postwar expansion weakened corporate expectations.

This episode is distinct from the 1970 recession-related bear market, although the periods overlapped. It also preceded the severe inflation-fighting interest-rate policies of the early 1980s, which eventually helped reshape global financial markets.