Which crash refers to the worldwide stock-market decline that followed the 1973 oil crisis and ended in 1974?

The 1973–1974 stock market crash was the worldwide decline that followed the 1973 oil crisis and ended in 1974.

The downturn developed amid inflation, slowing economic growth, the collapse of the Bretton Woods monetary system, and political uncertainty connected with the Watergate scandal. The October 1973 oil embargo by OPEC members sharply increased energy prices and intensified inflationary pressure.

Major stock markets fell heavily. In the United States, the Dow Jones Industrial Average reached its low in December 1974, after a prolonged bear market rather than a single day of panic.

The episode is sometimes described as part of the broader 1970s economic crisis. It differs from the 1973 oil crisis itself: the oil shock was a major cause and accelerator, while the crash describes the market decline.