What was the name of the 1973–1974 global stock-market collapse linked to oil shocks and stagflation?

The global stock-market collapse linked to oil shocks and stagflation was the 1973–1974 stock market crash. It unfolded during a period of inflation, weak economic growth, political uncertainty, and major energy-price disruption.

The 1973 oil crisis followed the Yom Kippur War, when members of the Organization of Arab Petroleum Exporting Countries announced an oil embargo and production restrictions. Oil prices rose sharply, increasing costs for businesses and consumers. Central banks and governments faced the difficult combination of inflation and slowing output.

In the United States, the Dow Jones Industrial Average fell substantially from its January 1973 high to its December 1974 low. The bear market affected many countries and helped end the long postwar period of generally favorable equity performance. The Watergate scandal and the resignation of President Richard Nixon added to American political uncertainty.

This crash is sometimes reduced to an oil-price story, but inflation, recession, monetary policy, and political developments all influenced markets. It was separate from the 1970s energy crises themselves.