The sharp U.S. stock-market decline that began in December 1961 is known as the Kennedy Slide.
The decline continued into 1962 and was intensified by concerns about slower economic growth, tighter monetary conditions, and uncertainty over corporate earnings. The Dow Jones Industrial Average fell substantially from its late-1961 high before reaching a low in June 1962.
The episode became associated with President John F. Kennedy, although it was not a single-day crash caused by one presidential decision. Kennedy’s administration was also involved in a major dispute with the steel industry in 1962, which added to investor uncertainty about corporate pricing and government policy.
The Kennedy Slide is sometimes confused with the much larger crashes of 1929 or 1987. It was a severe bear-market decline, but the U.S. economy did not enter a depression comparable to the 1930s.