The U.S. stock-market decline of 1962, also called the Great Slump, was known as the Kennedy Slide.
The decline ran from December 1961 to June 1962. The Dow Jones Industrial Average fell about 26.5% from its high to its low, with a particularly sharp drop on May 28, 1962. The episode followed a period of strong postwar market gains and reflected worries about economic growth, corporate profits, and the possibility of recession.
The name connects the decline with President John F. Kennedy’s administration, but it was not caused by one simple presidential decision. The crash also exposed concerns about highly valued growth stocks and market volatility. The Kennedy Slide is sometimes confused with the 1962 steel-price confrontation between Kennedy and U.S. steel companies; that dispute added political tension but is not a synonym for the entire market decline. The market recovered over time as economic conditions improved.