Which 1973–1974 bear market followed oil shocks and the collapse of Bretton Woods?

The 1973–1974 bear market that followed oil shocks and the collapse of Bretton Woods was the 1973–1974 stock market crash.

The decline unfolded amid high inflation, recession, monetary tightening, and major changes in the international monetary system. The Bretton Woods system of fixed exchange rates had broken down, while the 1973 oil crisis sharply increased energy costs after the Yom Kippur War and an Arab oil embargo.

In the United States, the Dow Jones Industrial Average fell about 45% from its January 1973 peak to its December 1974 low. The decline affected markets in several countries and ended a long period of strong postwar equity performance. It is often grouped with the economic turmoil of the 1970s rather than treated as one isolated panic day.

The crash is sometimes confused with the 1973 oil crisis itself. Oil-price disruption was a major contributor, but the stock-market crash also reflected inflation, recession, interest rates, and the end of Bretton Woods.