Which 1973–1974 stock-market crash accompanied the oil crisis and a prolonged bear market?

The stock-market crash that accompanied the oil crisis and a prolonged bear market was the 1973–1974 stock-market crash.

The downturn unfolded between January 1973 and December 1974. It followed years of inflationary pressure and economic weakness, while the collapse of the Bretton Woods monetary system added uncertainty. The 1973 oil crisis then sent energy prices sharply higher after Arab oil producers imposed an embargo on some countries.

In the United States, the Dow Jones Industrial Average fell from its January 1973 peak to a low in December 1974. The period combined inflation and stagnant economic growth, a condition later called stagflation. Other major markets also suffered substantial losses.

This crash is distinct from the 1970s oil shocks themselves: the oil crisis was a major cause of economic stress, while the stock-market crash describes the fall in equity prices. It is also separate from the 1987 global crash, which was much shorter and concentrated in October.