successful investors, the public's fears had temporarily subsided, and the stock markets rallied heavily in what became the greatest single day rally since the end of World War II. Although it seemed like recovery was imminent, the stock market continued to be volatile throughout the month of June. A stable rise did not occur until the end of the Cuban Missile Crisis in October. Aftermath This stock market shock was significant, but it had little immediate effects on interest rate premiums in the credit market. During the entire period, the interest rates remained relatively steady. Because there had not been substantial loan losses or bank failures in decades, the bank system remained remarkably stable, preventing the interest rates from spreading upward. The Federal Reserve made only minor interest rate movements, which helped ease panic in the treasury markets. When comparing the highest and lowest points of the stock market during the Kennedy Slide, the paper values of stocks declined 27% during the period of December 1961 and June 1962. The 1929–1932 bear market, which was a substantial cause of the Great Depression, saw a sharp drop of 89%. Many aspects of the Kennedy Slide of 1962 mirrored those of the Wall Street Crash of 1929, such as the detrimental mix of an extremely volatile stock market, fearful investors, and weak leadership. See also Wall Street Crash of 1929 Great Depression Stock market crash Flash crash Cuban Missile Crisis References External links Recessions Financial crises 1961 in American politics 1962 in American politics Financial history of the United States 1961 in economics 1962 in economics Presidency of John F. Kennedy