What was the name of the global stock-market collapse during the 1973–1974 oil crisis?

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The global market collapse during the 1973–1974 oil crisis is known as the 1973–1974 stock market crash.

The downturn followed the breakdown of the postwar economic environment, including high inflation, slowing growth, monetary tightening, and the 1973 oil shock. The Yom Kippur War and an Arab oil embargo sharply increased energy prices, worsening pressure on businesses and consumers.

Between its 1973 peak and its 1974 low, the Dow Jones Industrial Average lost about 45 percent. Major markets around the world also fell, making the episode an international bear market rather than a purely American event.

The crisis is often associated with stagflation: an uncomfortable combination of weak economic growth and high inflation. It differed from the 1987 crash because the decline unfolded over many months and reflected a broad economic shock rather than a single trading day.

Source: Wikipedia · fact-checked Oct. 2026

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