Which 1962 U.S. stock-market decline is nicknamed the Kennedy Slide?

The 1962 U.S. stock-market decline is nicknamed the Kennedy Slide.

The slide ran from late 1961 into June 1962 and was one of the sharpest market declines since the 1929 crash. The Dow Jones Industrial Average reached a high in December 1961, then fell roughly 27% by its June low. The name refers to President John F. Kennedy, whose administration was in office during the decline; it does not mean that Kennedy alone caused the fall.

Investors were concerned about slowing economic growth, corporate earnings, inflation, and the possibility of tighter monetary conditions. A confrontation between the Kennedy administration and U.S. Steel in April 1962 also damaged confidence. The administration publicly criticized major steel producers after they raised prices, and the episode became part of the market’s unsettled atmosphere.

The decline was later followed by recovery. It is sometimes confused with the 1969–70 bear market or with the 1966 market decline. “Kennedy Slide” specifically identifies the 1962 episode associated with Kennedy’s presidency.