Which 1973–1974 event marked a major global stock-market crash after the Bretton Woods era?

The 1973–1974 stock market crash was a major global crash after the Bretton Woods era.

The downturn ran from November 1973 into 1974 and affected major markets in the United States, the United Kingdom, Japan, and elsewhere. In the United States, the S&P 500 fell roughly 48% from its January 1973 peak to its October 1974 low.

The crash followed the collapse of the Bretton Woods monetary system, the 1973 oil crisis, high inflation, and weak economic growth. These conditions produced “stagflation,” a difficult combination of rising prices and poor output that challenged conventional economic policy.

It is sometimes confused with the 1973 oil crisis itself. The oil shock was an important cause and accelerator, while the stock-market crash describes the prolonged fall in equity prices. The episode also ended a long period of strong postwar stock-market performance.