Which 1962 US stock-market downturn became known as the Kennedy Slide?

The 1962 US stock-market downturn became known as the Kennedy Slide.

The decline took place during the first half of 1962, when investors became concerned about economic growth, corporate earnings, and the market's high valuations. The Dow Jones Industrial Average fell sharply from its late-1961 level, with the steepest phase occurring in May and June. The name refers to President John F. Kennedy, who was in office during the decline, rather than to a formal government program.

The Kennedy administration also faced a major confrontation with the steel industry in April 1962. After steel companies announced price increases, Kennedy criticized the decision, and the episode added to concerns about business-government relations. It was one part of the broader market mood, not a single mechanical cause of the slide.

The downturn ended without becoming a depression. A common mix-up is to call every 1962 decline a recession; the Kennedy Slide specifically refers to the stock-market sell-off.