Which 1973–1974 bear market followed the oil crisis and ended with the Dow down about 45% from its 1973 high?

The 1973–1974 stock market crash was the bear market that followed the oil crisis and ended with the Dow about 45% below its 1973 high.

The downturn began after the market peak in January 1973 and reached a major low in December 1974. The 1973 oil crisis, triggered by an OPEC oil embargo and production restrictions, sharply increased energy costs. At the same time, inflation, recession, political uncertainty, and the collapse of the Bretton Woods monetary system pressured businesses and investors.

The bear market affected the United States and other major economies. The United Kingdom experienced a particularly severe financial and economic crisis, while stock markets worldwide declined. The Watergate scandal added to uncertainty in the United States.

This crash is sometimes described as part of the 1970s “stagflation” crisis. Stagflation means weak growth combined with high inflation; it is an economic condition, not a separate stock-market crash name.