The 1962 U.S. stock-market crash that began with a sharp fall on May 28 is called the Kennedy Slide.
The Dow Jones Industrial Average dropped 5.7% on May 28, 1962, in the steepest one-day percentage decline since the 1929 crash at that time. The selling continued on May 29 before markets stabilized. The episode took place during President John F. Kennedy’s administration, which explains the name, although it was not caused by a single presidential decision.
Concerns about economic growth, corporate profits, inflation, and valuation had already unsettled investors. The market had risen strongly during the early 1960s, and its decline reflected a broad reassessment of stock prices. The Kennedy Slide is sometimes confused with later crashes because it was severe but relatively brief; unlike the 1929 collapse, it did not lead to a comparable decade-long depression.