Which U.S. exchange suffered the 1962 stock-market plunge known as the Kennedy Slide?

The New York Stock Exchange suffered the 1962 stock-market plunge known as the Kennedy Slide.

The Kennedy Slide ran from late 1961 into June 1962 and culminated in a sharp sell-off on May 28 and 29. On May 28, the Dow Jones Industrial Average fell 5.7 percent, then dropped again the next day. The decline erased a large portion of the gains from the preceding bull market.

The episode was associated with concerns about slowing economic growth, high stock valuations, and uncertainty over government policy. It took place during the presidency of John F. Kennedy, which explains the nickname, although the name does not mean that Kennedy personally caused the market decline. The administration and Federal Reserve monitored the turmoil as financial confidence weakened.

The New York Stock Exchange was the principal U.S. stock marketplace involved, not a futures exchange such as the Chicago Mercantile Exchange. The market eventually recovered, and the plunge did not become a prolonged depression. It remains an important example of a sharp postwar correction before the more famous crashes of 1987 and 2008.