Which 1973 event helped trigger the worldwide stock-market crash and bear market of 1973–1974?

The OPEC oil embargo helped trigger the worldwide stock-market crash and bear market of 1973–1974.

In October 1973, Arab members of the Organization of the Petroleum Exporting Countries imposed an oil embargo on countries supporting Israel during the Yom Kippur War. Oil prices rose sharply, contributing to inflation, energy shortages, weaker corporate profits, and slower economic growth.

The market decline was also shaped by the end of the postwar economic boom, monetary pressures, and political scandals such as Watergate in the United States. The Dow Jones Industrial Average fell roughly 45% from its January 1973 peak to its December 1974 low.

The oil embargo was an important catalyst, not the only cause. The crash is sometimes called the 1973–74 bear market because it unfolded over many months rather than in one dramatic trading session.