Which Monday marked the 1967 collapse of sterling that preceded a worldwide stock-market slide?

The 1967 sterling crisis culminated on November 20, 1967, when the United Kingdom devalued the pound from $2.80 to $2.40.

The devaluation followed persistent balance-of-payments difficulties and pressure on Britain’s currency reserves. Prime Minister Harold Wilson announced the change in a televised address, famously explaining that it would not reduce the value of the pound in people’s pockets inside Britain.

The currency crisis contributed to a broader loss of confidence and an international stock-market decline sometimes called the Kennedy Slide’s later-era counterpart in financial histories. Britain’s action also affected countries that maintained currency links to sterling.

The date is not the same as the 1962 U.S. market decline known as the Kennedy Slide. The two episodes are separate events, although both are discussed in accounts of postwar stock-market volatility.