What was the name of the 1973–1974 global bear market associated with the oil crisis and high inflation?
Answer
1973–1974 stock market crash
Answer
1973–1974 stock market crash
The 1973–1974 global bear market associated with the oil crisis and high inflation was the 1973–1974 stock market crash.
Major stock markets fell from 1973 into 1974 as economies faced inflation, recession and an energy shock. The oil crisis intensified after Arab members of OPEC announced an embargo in October 1973, causing oil prices to rise sharply.
In the United States, the Watergate scandal and uncertainty about economic policy added to investor anxiety. The bear market followed the end of the long postwar expansion and was unusually damaging to household wealth.
The oil embargo was an important amplifier, not the only cause. Inflation had already been rising, and monetary conditions, wage pressures and weakening economic growth also mattered. The episode is therefore better understood as a combination of energy, economic and political shocks.
Source: Wikipedia · fact-checked Oct. 2026