What was the 1973–1974 global stock-market decline often called?

The 1973–1974 global stock-market decline was often called the 1973–1974 bear market.

The downturn affected major markets from 1973 into 1974. In the United States, the S&P 500 fell sharply, while the United Kingdom and other countries experienced severe share-price declines. The period formed part of a broader economic crisis involving inflation, recession, and energy disruption.

The 1973 oil crisis followed the Yom Kippur War, when Arab oil producers imposed an embargo on certain countries. Oil prices rose dramatically, adding to inflation and weakening economic activity. Monetary tightening and political uncertainty also weighed on markets.

This episode is sometimes confused with the 1970s oil shock alone. The bear market was a financial-market decline within a wider stagflationary crisis, not merely a reaction to one day’s trading.