What was the name of the sharp U.S. stock-market decline in May 1962?

The sharp U.S. stock-market decline in May 1962 was called the Kennedy Slide.

From late 1961 into June 1962, American shares lost substantial value after a long period of rising prices. The Dow Jones Industrial Average fell 5.7% on 28 May 1962, a day remembered as one of the crash’s most dramatic sessions. The market reached its low on 26 June.

The decline was associated with concerns about slowing economic growth, corporate earnings, inflation, and uncertainty during the Cold War. A simultaneous fall in many leading stocks also raised questions about market concentration and investor confidence.

The name refers to President John F. Kennedy’s administration, not to a direct action by Kennedy that caused the fall. The episode is also known as the Flash Crash of 1962, although it predates modern electronic flash crashes.