Which 1973–1974 bear market is associated with the oil crisis and the end of the postwar bull market?

The 1973–1974 bear market was the stock-market crash associated with the oil crisis and the end of the postwar bull market.

The decline followed years of inflation, slowing growth and the breakdown of the Bretton Woods monetary system. The 1973 Yom Kippur War prompted Arab oil-producing countries to impose an embargo on supporters of Israel, and oil prices surged. The resulting energy shock intensified inflation and recession in many economies.

In the United States, the S&P 500 fell about 48 percent from its January 1973 peak to its October 1974 low. Britain experienced an especially severe market decline, while banks and companies faced high borrowing costs.

This crash is often discussed with the 1970s “stagflation” crisis. It was a prolonged bear market lasting roughly 21 months, not a one-day panic like 1987.