What was the name of the 1962 U.S. stock-market decline caused partly by fears over steel-price increases?

The 1962 U.S. stock-market decline linked partly to fears over steel-price increases was the Kennedy Slide of 1962.

The decline occurred between December 1961 and June 1962, with the sharpest losses concentrated in the spring. Investor confidence weakened amid concerns about slowing economic growth, high valuations, and international tensions. A dispute between President John F. Kennedy’s administration and major steel companies added to uncertainty.

In April 1962, steel companies announced price increases after negotiating wage settlements. The administration strongly opposed the increases, and several companies quickly reversed them. The confrontation unsettled investors because it suggested possible government pressure on business and raised questions about corporate pricing power.

The Dow Jones Industrial Average fell about 26% from its December 1961 peak to its June 1962 low. The episode is not generally classified as a full-scale depression, and the market later recovered. Its name refers to Kennedy’s presidency, not to a crash caused solely by presidential action.