Which 1973–1974 bear market followed the 1973 oil crisis and ended with major U.S. index losses?

The 1973–1974 bear market that followed the 1973 oil crisis was the 1973–1974 stock market crash.

The downturn developed amid inflation, slowing economic growth, political uncertainty, and an energy shock. In October 1973, Arab members of the Organization of Petroleum Exporting Countries announced an oil embargo against countries supporting Israel during the Yom Kippur War. Oil prices rose sharply, worsening inflation and business costs.

In the United States, the Watergate scandal and President Richard Nixon’s resignation added to investor uncertainty. The Dow Jones Industrial Average reached a major low on December 6, 1974, after a prolonged decline. From its January 1973 peak to that low, the Dow lost roughly 45 percent.

This crash is sometimes grouped with the 1970s “stagflation” crisis. Stagflation means simultaneous weak growth and high inflation, while the stock-market crash refers specifically to the collapse in equity valuations.