The 1962 U.S. stock-market plunge linked to Cold War tension and tightening credit was called the Kennedy Slide.
The Kennedy Slide lasted from December 1961 into June 1962 and was one of the sharpest U.S. market declines since the 1929 crash. The Dow Jones Industrial Average fell about 26.5% from its December high to its June low. Investors faced concerns about slowing economic growth, tighter monetary conditions, declining corporate profits, and international tensions during the Cold War.
The episode was named after President John F. Kennedy, although it was not caused by one presidential decision alone. A dispute between the administration and the steel industry in April 1962 added to market anxiety after major steel companies raised prices despite government pressure. The crash is sometimes confused with the 1962 Cuban Missile Crisis, which occurred later in the year; the Kennedy Slide had already ended by then.