The Kennedy Slide caused the Dow Jones Industrial Average to lose 26.5% from its December 1961 peak.
The crash occurred between December 1961 and June 1962, during the administration of U.S. President John F. Kennedy. The Dow had risen strongly during the postwar expansion, but concerns about economic growth, corporate profits, and monetary policy helped reverse investor enthusiasm.
A major political and corporate dispute also affected confidence. The Kennedy administration’s confrontation with the steel industry over price increases was widely interpreted as hostile to business, although it was not the sole cause of the market decline.
The Dow reached a low on 26 June 1962, then recovered. The episode is often called the Kennedy Slide, but it was not a crash caused by one presidential action. It was part of a broader correction in U.S. equities after a long advance.