Parts of this article (those related to documentation) need to be updated. Please help update this article to reflect recent events or newly available information.(March 2021)
This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index. Since first closing at 16.66 on January 3, 1950, the S&P 500 has increased, despite several periods of decline.
History
This section needs to be updated. Please help update this article to reflect recent events or newly available information.(March 2021)
S&P 500 Index from 1950 to 2016
Standard & Poor's, initially known as the Standard Statistics Company, created its first stock market index in 1923. It consisted of 233 different stocks and was computed on a weekly basis. Three years later, it developed a 90 component composite price index that was computed on a daily basis; that was expanded over the years. On March 4, 1957, the Standard & Poor's 500 (.INX) (.SPX) was introduced.
Milestone highs
March 24, 2000: The S&P 500 index reaches an all-time intraday high of 1,552.87 during the dot-com bubble.
October 9, 2007: Index closes at a record high of 1,565.15, the highest close prior to the financial crisis of 2007–2008. Two days later, the index hits an intraday record high of 1,576.09. It did not regain this closing level until March 28, 2013.
February 19, 2020: The S&P 500 index reached its highest point in the bull market that started from the low point on March 9, 2009, closing at 3386.15.
August 18, 2020: The S&P 500 index closed at a record high of 3389.78 amid the ongoing COVID-19 pandemic in the United States.
January 3, 2022: The S&P 500 index closed at a record high of 4796.56. As of October 4, 2023 this record all time high still stands.
October 19, 1987: S&P 500 registers its largest daily percentage loss, falling 20.47 percent. The one-day crash, known as "Black Monday," was blamed on program trading and those using a hedging strategy known as portfolio insurance. Despite the losses, the S&P 500 still closed positive for the year.
February 5, 2018: After months of low volatility, S&P 500 registers a new largest daily point loss of 113.19 points, equivalent to more than 4%. Three days later, the index suffered another heavy loss of nearly the same amount.[1]
October 13, 2008: S&P 500 marks its best daily percentage gain, rising 11.58 percent. It also registers its then-largest single-day point increase of 104.13 points.
December 26, 2018: While on pace for the worst December performance since the Great Depression, S&P 500 registers a new largest daily point gain of 116.60 points, which translates to roughly 5% on the index.[2]
December 31, 2008: For the year, S&P 500 falls 38.49 percent, its worst yearly percentage loss. In September 2008, Lehman Brothers collapsed as the financial crisis spread.
March 16, 2020: The S&P 500 index suffered its worst daily decline since 1987's Black Monday, falling 9.5 percent, as a result of anxiety about the coronavirus pandemic.[3] The decline of more than 20% since its peak, only 16 trading days earlier, signaled the start of a bear market closing at 2,480.64.
June 8, 2023: The S&P 500 advanced 26.41 points, or 0.6%, to end at 4,293.93 Thursday, its highest closing level since Aug. 16, 2022, according to Dow Jones Market Data. The 4,292.44 level marked a 20% rally off the bear-market closing low of 3,577.03 set on Oct. 12, 2022. By closing above that threshold, the S&P met a widely used definition of the end of a bear market. [1]
The following is a list of the milestone closing levels of the S&P 500. 1-point increments are used up to the 20-point level; 2 to 50; 5 to 100; 10 to 500; 20 to 1,000; 50 to 3,000; and 100-point increments thereafter. Bold formatting is applied to every five milestones, excluding peaks.[6]
^The S&P first crossed 2,300 during the day on January 26, 2017 before falling below the level at closing. After that, the S&P retreated away from the 2,300-pt milestone for a possible selloff in the next month. It took two weeks for the S&P to finally close above 2,300.
^The S&P first crossed 2,400 during the day on March 1, 2017 before falling below the level at closing. After that, the S&P retreated away from the 2,400-pt milestone and then closed within 1 point of the milestone on May 5, 2017. Then on May 8, 2017, the S&P traded above 2,400 intraday then closed below that milestone again and did it the third time the very next day. However, it took until May 15, 2017 for the S&P to finally close above 2,400.
^This was the S&P 500's close at the peak on September 20, 2018 prior to the rapid selloff within the last quarter of the same year. While a 20% decline was recognized on an intraday-basis, the threshold was not met on a closing-basis, leading some to call it a correction and others a bear market.[8]
^After peaking on February 19, 2020, the S&P 500 Index rapidly fell into correction later that same month and into bear market territory in the next month amid the COVID-19 pandemic.
