The sharp 1962 U.S. stock-market decline associated with President John F. Kennedy was called the Kennedy Slide.
The sell-off began in late 1961 and continued into June 1962. The Dow Jones Industrial Average fell about 22.5% from its high, making the episode one of the most severe U.S. market declines since the 1929 crash. The market bottomed on June 26, 1962.
Several pressures contributed, including concern about slowing economic growth, high interest rates, and uncertainty over corporate profits. The name also reflected political debate about Kennedy administration policies, especially its confrontation with the steel industry after companies raised prices.
The Kennedy Slide is not the same event as the 1962 Cuban Missile Crisis, although both occurred during Kennedy’s presidency. Nor was it a single-day collapse like the 1987 Black Monday crash; it was a months-long decline.