The 1962 U.S. stock-market decline was called the Kennedy Slide.
The Kennedy Slide took place during the spring and summer of 1962. Investors worried about inflation, slowing economic growth, and tensions connected with the Cold War. The market had also risen strongly during the previous years, leaving valuations vulnerable when confidence weakened.
The Dow Jones Industrial Average fell substantially from its 1961 peak, and the decline became one of the most severe U.S. market setbacks since the 1929 crash. The Cuban Missile Crisis occurred later in 1962, so it is often mentioned in discussions of the era but was not the original trigger of the spring collapse.
The name refers to President John F. Kennedy’s administration, not to a single trading day personally caused by Kennedy. The episode also included political disputes over steel prices, which contributed to uncertainty about business-government relations.