Which 1973–1974 market crash followed oil shocks and ended the postwar bull market in the United States?

The 1973–1974 stock market crash followed oil shocks and ended the postwar bull market in the United States.

The downturn began in a difficult economic environment marked by high inflation, slowing growth, and political uncertainty. The 1973 oil crisis, triggered after the Yom Kippur War when Arab members of OPEC imposed an oil embargo on several countries, sharply increased energy costs.

The S&P 500 fell about 48% from its January 1973 peak to its October 1974 low. The decline affected major markets outside the United States as well, making it an important international bear market rather than an isolated Wall Street event.

The crash is often discussed alongside the 1970s era of stagflation, when economies experienced weak growth and high inflation at the same time. It differs from the 1970 recession decline and from the later 1987 one-day global plunge.