Which 1973 event helped trigger a global stock-market crash by sharply raising oil prices?

The 1973 event that helped trigger a global stock-market crash by sharply raising oil prices was the 1973 oil crisis.

The crisis began in October 1973 when Arab members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo against countries viewed as supporting Israel during the Yom Kippur War. Oil producers also reduced output. The price of crude oil rose dramatically, increasing transportation and production costs across the world.

The shock contributed to inflation, recession, and severe stock-market weakness. In the United States, the S&P 500 fell roughly 48 percent from its January 1973 peak to its October 1974 low. The market decline was not caused by oil alone: the United States was also experiencing inflation, monetary pressure, and the economic effects of the 1970s energy disruption. The crisis is often confused with the separate 1979 oil crisis after the Iranian Revolution.