What was the 1973–1974 U.S. bear market associated with the oil crisis and Watergate commonly called?

The U.S. bear market associated with the oil crisis and Watergate was the 1973–1974 stock market crash.

The decline ran from January 1973 to October 1974 and occurred amid high inflation, weak economic growth, political turmoil, and the 1973 oil crisis. The Watergate scandal further damaged confidence in U.S. institutions. The Dow Jones Industrial Average fell about 45% from its January 1973 high to its October 1974 low.

The market shock was part of a broader international downturn rather than an isolated New York event. The collapse of the Bretton Woods monetary system, rising energy costs, and difficult economic conditions affected many countries.

This crash is sometimes confused with the 1970s energy crisis itself. The oil crisis was one major contributor, while the stock-market crash describes the sustained fall in equity prices. It also predates the 1987 Black Monday crash by more than a decade.