Which 1970s market crisis followed the collapse of Bretton Woods and the 1973 oil shock?

The 1973–1974 stock-market crash followed the collapse of Bretton Woods and the 1973 oil shock.

The crash began after years of inflationary pressure, economic uncertainty, and weakening confidence in the international monetary system. The United States ended the dollar’s convertibility into gold in 1971, effectively ending the Bretton Woods system of fixed exchange rates. In October 1973, Arab members of OPEC and other producers imposed an oil embargo and reduced production after the Yom Kippur War, causing energy prices to surge.

U.S. and European markets then suffered a prolonged decline. The Dow Jones Industrial Average lost more than 45% between January 1973 and December 1974, while the S&P 500 fell about 48% from peak to trough. The episode was part of a wider period of stagflation, combining high inflation with weak economic growth. It is distinct from the 1973 oil crisis itself: the oil shock was one major cause of the broader market collapse, not its alternate name.