What was the prolonged 1973–1974 collapse in global share prices commonly called?

The prolonged 1973–1974 collapse in global share prices is commonly called the 1973–1974 stock market crash.

The downturn began amid inflation, slowing economic growth, monetary tightening, and severe energy-market disruption. In October 1973, Arab members of OAPEC announced an oil embargo against countries supporting Israel during the Yom Kippur War. Oil prices rose sharply, adding to inflation and increasing fears of recession in industrial economies.

Stock markets fell for roughly two years. In the United States, the Dow Jones Industrial Average reached a high in January 1973 and hit a low in December 1974, losing about 45% between those points. The period is sometimes discussed alongside the 1973 oil crisis and the 1970s stagflation, but those names describe connected economic conditions rather than the stock-market decline itself. The crash affected markets across the United States, Europe, and other regions.