Which 1973 event helped start the global stock-market crash that continued through 1974?

The 1973 oil crisis helped start the global stock-market crash that continued through 1974.

In October 1973, Arab members of OPEC announced an oil embargo against countries supporting Israel during the Yom Kippur War. Oil prices rose sharply, creating inflationary pressure and increasing production costs for businesses around the world.

The shock contributed to recession, weaker corporate profits, and falling stock valuations. In the United States, the Dow Jones Industrial Average declined substantially between its January 1973 peak and its December 1974 low. The period is often called the 1973–1974 stock-market crash or bear market.

The oil crisis was not the only cause. Markets had already been weakened by inflation, monetary tightening, the collapse of the Bretton Woods system, and political uncertainty including the Watergate scandal. The 1979 oil crisis was a separate episode connected to the Iranian Revolution.