Which 1973–1974 global stock-market crash followed the oil crisis and recession?

The 1973–1974 global stock-market crash is known as the 1973–1974 bear market.

The downturn began after the collapse of the Bretton Woods monetary system, rising inflation, and the 1973 oil crisis. The Yom Kippur War was followed by an Arab oil embargo, and oil prices rose dramatically. Major economies then experienced recessionary pressure, while investors reassessed highly valued companies and deteriorating corporate prospects.

U.S. stocks suffered a particularly severe decline, and the United Kingdom, Japan, and other markets also fell. The bear market is sometimes shortened to “the 1973 crash,” but its losses unfolded across 1973 and 1974 rather than on one universally named day.

It should not be confused with the 1970s energy crisis as a whole: the stock-market bear market was one financial consequence of a broader economic and geopolitical shock.