Which 1973 event helped trigger the worldwide stock-market crash of 1973–74?

The 1973 oil crisis helped trigger the worldwide stock-market crash of 1973–74.

In October 1973, Arab members of the Organization of Petroleum Exporting Countries imposed an oil embargo on countries viewed as supporting Israel during the Yom Kippur War. Oil prices rose sharply, increasing transport and production costs and worsening inflation in many economies.

The stock-market crash also reflected other pressures, including the end of the postwar boom, recession, high inflation, and the collapse of the Bretton Woods fixed-exchange-rate system. In the United States, the Dow Jones Industrial Average fell heavily from its January 1973 level to its December 1974 low.

The oil crisis is sometimes treated as the sole cause, but it was one major shock within a broader global economic breakdown. The 1973–74 crash affected markets in North America, Europe, and elsewhere, and the period became associated with stagflation.