The 1962 U.S. stock-market decline was called the Kennedy Slide.
The Kennedy Slide ran from December 1961 to June 1962 and was one of the sharpest U.S. market declines since the 1929 crash. The Dow Jones Industrial Average fell roughly 27 percent from its peak during the episode.
The drop reflected several concerns, including slowing economic growth, high stock valuations, and uncertainty about government policy. President John F. Kennedy’s administration had challenged the steel industry after companies raised prices, and investors worried about the broader relationship between government and business.
The Kennedy Slide is sometimes confused with a recession, but the market decline and the 1960–1961 U.S. recession were separate events. The economy recovered, and the market eventually resumed its longer-term upward trend. The episode is also known as the Flash Crash of 1962, although it unfolded over months rather than one brief trading interruption.