Which event involved the U.S. Navy demonstrating its naval power by touring worldwide?

The Great White Fleet Tour is the correct answer because it refers to the demonstration of U.S. naval power when President Theodore Roosevelt ordered a fleet of battleships, painted white, to embark on a global tour in 1907-1909. This mission aimed to showcase the United States' naval capabilities and assert its growing power on the international stage, particularly in the context of emerging tensions in Asia and the Pacific. The fleet made stops in various ports around the world, receiving an enthusiastic response from both international audiences and Americans alike, reinforcing the notion of the U.S. as a formidable naval power.

The other events don't fit the nuances of this specific demonstration of naval power. The completion of the Panama Canal significantly impacted global maritime trade routes but was primarily an engineering feat and diplomatic landmark. The Spanish-American Conflict was a war that showcased military strength but didn’t focus specifically on a global naval display. Muckraking refers to journalistic efforts to expose corruption and social issues, not a naval demonstration. Thus, the Great White Fleet Tour stands out as the definitive event highlighting U.S. naval power through its worldwide tour.