What was the 1973–1974 worldwide decline in share prices commonly called?

The worldwide decline in share prices during 1973 and 1974 was called the 1973–1974 stock market crash.

The crash affected major markets around the world, including the United States and the United Kingdom. In the United States, the Dow Jones Industrial Average fell from its January 1973 high to a low in December 1974, losing roughly 45% of its value. The bear market was among the most severe postwar declines at that time.

Several forces combined to damage investor confidence. The collapse of the Bretton Woods monetary system created uncertainty, while the 1973 oil crisis sharply increased energy costs. Inflation, recession, and political turmoil, including the Watergate scandal, further weakened markets.

The episode is distinct from the 1970 crash and the 1987 Black Monday crash. It is also often discussed as part of the wider economic crisis known as the 1970s stagflation era.