What was the first major U.S. stock-market crash of the 1960s, known as the Kennedy Slide?

The first major U.S. stock-market crash of the 1960s was the Kennedy Slide of 1962.

The Kennedy Slide describes the sharp decline in U.S. share prices from December 1961 through June 1962. The S&P 500 fell about 22.5% from its peak, while the Dow Jones Industrial Average dropped substantially as well. The episode was also called the Flash Crash of 1962, although it unfolded over months rather than in a single trading session.

The decline followed a period of strong postwar economic growth and rising stock valuations. Concerns about economic conditions, corporate earnings, and market speculation contributed to the weakening of prices. President John F. Kennedy was in office, which explains the name, but the crash was not caused by a single presidential action.

It is often confused with the later Nifty Fifty decline of the 1970s or with the 1987 Black Monday crash. The Kennedy Slide belongs specifically to 1961–1962 and predates both.