1973-1974 Stock Market Crash Explained

[icebreaker]

The 1973-1974 stock market crash was a stock market crash that lasted between January 1973 and December 1974. Affecting all the major stock markets in the world, particularly the United Kingdom, it was one of the worst stock market downturns in modern history. The crash came after the collapse of the Bretton Woods system over the previous two years, with the associated 'Nixon Shock' and United States dollar devaluation under the Smithsonian Agreement. It was compounded by the outbreak of the 1973 oil crisis in October of that year. It was a major event in the 1970s recession.

Source:
http://ovis.ui.ac.id/wiki/1973%E2%80...k_market_crash

[icebreaker]

Latest Update: Feb. 23, 2010

7th Worst Stock Market Crash: 1973 – 1974
Key events: Vietnam war, Watergate scandal
Date Started: 1/11/1973
Date Ended: 12/06/1974
Total Days: 694
Starting DJIA: 1051.70
Ending DJIA: 577.60
Total Loss: -45.1%

[webfrontier]

I was not aware of this before, until I came to read this thread. I hope this doesn't happen again. It's very hard to get past this current recession if we don't persevere and remain optimistic in our work.