The 1962 U.S. stock-market crash was known as the Kennedy Slide.
The Kennedy Slide occurred during the sharp market decline from December 1961 through June 1962. The Dow Jones Industrial Average fell about 27 percent from its peak, including a particularly severe one-day drop on May 28, 1962. The episode ended a long postwar advance and damaged investor confidence.
The nickname reflects the political climate of President John F. Kennedy’s administration, but it does not mean that Kennedy personally caused the crash. Concerns included slowing economic growth, high valuations, inflationary pressures, and uncertainty about government policy. Kennedy’s administration also faced a confrontation with steel companies in 1962, which added to business uncertainty.
The crash is sometimes called the Flash Crash of 1962, although that term should not be confused with the computer-driven 2010 Flash Crash. The 1962 decline occurred before modern electronic trading and was part of a broader market correction rather than a single algorithmic event.