What was the 1973–1974 worldwide equity decline, one of the worst bear markets since the Great Depression, called?

The worldwide equity decline of 1973–1974 was called the 1973–74 stock market crash.

The bear market followed the collapse of the Bretton Woods monetary arrangements, high inflation, rising interest rates, and the 1973 oil crisis. In October 1973, Arab members of OPEC and other producers imposed an oil embargo connected to the Yom Kippur War, causing energy prices to surge and worsening economic fears.

Major stock indexes fell sharply in the United States, Britain, and other markets. The Dow Jones Industrial Average lost roughly 45% from its January 1973 peak to its December 1974 low. The decline occurred alongside recession and “stagflation,” a difficult combination of weak growth and high inflation.

The crash is sometimes grouped with the 1973 oil crisis, but those are not identical terms. The oil shock was one important cause of the broader economic and market downturn.