Which 1973–1974 bear market followed the oil crisis and ended with a major fall in U.S. share prices?

The 1973–1974 bear market that followed the oil crisis and caused a major fall in U.S. share prices was the 1973–1974 stock market crash.

The downturn developed amid inflation, slowing economic growth, political uncertainty, and the 1973 oil crisis. After Arab oil-producing states imposed an embargo on countries supporting Israel during the Yom Kippur War, oil prices rose sharply. Higher energy costs strained consumers and companies, while inflation reduced the real value of investments.

The Dow Jones Industrial Average fell heavily from its January 1973 high to its December 1974 low. The decline was part of a wider international bear market, and Britain experienced especially severe economic and financial pressure during the period.

This episode is sometimes grouped with the 1970s inflation crisis rather than treated as a single one-day crash. Unlike Black Monday in 1987, it unfolded over many months and reflected broad economic deterioration.