Which 1973–1974 crisis followed the collapse of Bretton Woods and the 1973 oil shock?

The 1973–1974 stock-market crash followed the collapse of Bretton Woods and the 1973 oil shock.

The broad decline began amid monetary instability, recession fears, political uncertainty, and rapidly rising energy prices. In the United States, the S&P 500 fell roughly 48% from its January 1973 high to its October 1974 low.

The oil shock began after Arab members of OPEC imposed an embargo on countries supporting Israel during the Yom Kippur War. Oil prices rose sharply, worsening inflation and reducing economic activity in many countries. The end of fixed exchange rates also changed the international financial environment.

This crash is sometimes grouped with the 1970s bear market, but it was not a single-day event. It was a prolonged international decline shaped by both economic and geopolitical shocks.