Which 1973–1974 stock-market crash followed the end of the postwar bull market in the United States?

The 1973–1974 stock-market crash was the 1973–1974 bear market that ended the long postwar U.S. bull market.

From January 1973 to October 1974, the Dow Jones Industrial Average lost about 45 percent. The period was associated with high inflation, the 1973 oil crisis, recession, and political uncertainty linked to the Watergate scandal.

The decline was part of a broader international market downturn, not merely a reaction to one day’s trading. Rising energy costs damaged economic growth while inflation reduced the real value of financial assets.

The event is sometimes confused with the 1970s oil crisis itself. The oil crisis was an important economic shock, while the bear market describes the sustained fall in equity prices.