John F. Kennedy’s 1962 speech helped calm markets after the decline known as the Kennedy Slide.
The Kennedy Slide was a sharp fall in U.S. share prices during the first half of 1962. The Dow Jones Industrial Average dropped about 22.5% from its December 1961 peak to its June low. Investors worried about economic growth, corporate earnings, and the administration’s confrontation with business leaders.
On 23 July 1962, Kennedy addressed the nation in a televised speech about the economy. He argued that lower prices could create opportunities for investment and emphasized government efforts to support growth. The market subsequently stabilized, although the speech was not the only factor affecting prices.
The episode is also called the Flash Crash of 1962, but it should not be confused with the modern 2010 Flash Crash. The Kennedy Slide was a months-long bear-market decline rather than a single computerized trading disturbance.