Which 1973–1974 event describes the major bear market that followed the oil crisis and high inflation?

The major bear market that followed the oil crisis and high inflation was the 1973–1974 stock-market crash.

From January 1973 to December 1974, the Dow Jones Industrial Average fell about 45%. The decline occurred amid accelerating inflation, the 1973 oil crisis, recession, and political uncertainty connected with the Watergate scandal.

The oil shock began after Arab members of OPEC imposed an embargo on several countries in October 1973. Energy prices rose sharply, affecting transportation, manufacturing, household costs, and corporate profits.

The crash is often grouped with the broader 1970s stagflation crisis rather than treated as a single-day event. It also helped end the long postwar bull market that had begun in the early 1950s.