The 1962 U.S. stock-market decline was called the Kennedy Slide of 1962.
The decline ran from late 1961 into June 1962, with the Dow Jones Industrial Average reaching its low on June 26. The market fell as investors reassessed high share valuations, slowing economic growth, and corporate-profit expectations. The Cuban Missile Crisis occurred later, in October 1962, and was not the sole cause of the earlier slide.
The episode is named after President John F. Kennedy’s administration, not because Kennedy personally caused a one-day crash. It is also sometimes called the “Flash Crash of 1962,” though that label can be confusing because modern readers associate flash crashes with computerized intraday trading.
The Kennedy Slide was serious but shorter and less globally transformative than the 1929 or 1987 crashes. It remains an important example of how valuation concerns and changing economic expectations can reverse a strong bull market.