Which geopolitical crisis helped trigger the 1973–1974 worldwide stock-market crash?

The 1973 oil crisis helped trigger the 1973–1974 worldwide stock-market crash.

In October 1973, Arab members of OPEC and several allied oil producers imposed an embargo on countries viewed as supporting Israel during the Yom Kippur War. Oil prices rose sharply, creating inflationary pressure and increasing costs for businesses and consumers. The shock intensified an already difficult economic environment.

Stock markets around the world declined as investors confronted inflation, recession risks, and falling corporate profitability. In the United States, the Dow Jones Industrial Average fell substantially from its January 1973 peak to its December 1974 low.

The crash was not caused by oil alone. Wage pressures, monetary conditions, economic slowdown, and the end of the postwar boom also mattered. The period is often discussed alongside the 1970s era of stagflation, combining weak growth with high inflation.