What was the name of the 1973–1974 global stock-market crash associated with the oil crisis?

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The global decline associated with the oil crisis was the 1973–1974 stock-market crash.

The crash unfolded after the postwar expansion gave way to inflation, slower growth, and monetary pressure. The October 1973 Yom Kippur War was followed by an Arab oil embargo against countries viewed as supporting Israel. Oil prices rose sharply, creating a major supply shock for industrial economies.

From January 1973 to December 1974, the Dow Jones Industrial Average lost about 45% of its value. The downturn affected many major markets and formed part of a wider period of stagflation, in which weak economic growth coexisted with high inflation.

The crash is sometimes attributed only to the oil embargo, but market weakness had begun before October 1973. Inflation, recession fears, and the collapse of the Bretton Woods monetary arrangements were also important parts of the surrounding financial environment.

Source: Wikipedia · fact-checked Oct. 2026

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