Dow Jones in 1916

The Dow Jones Industrial Average fell 4.2% in 1916, from 99.15 at the end of 1915 to 95.00. Its highest close was 110.15 on Nov 21 — a record that stood until July 9, 1919, and its lowest 84.96 on Apr 22. The biggest one-day fall was −5.4% on Dec 21 and the biggest rise +5.5% on Dec 22. Adjusted for inflation, it lost 14.9%.

Change in 1916

−4.2%

99.15 → 95.00

High

110.15

Nov 21

Low

84.96

Apr 22

After inflation

−14.9%

US CPI

Up days

153 of 301

longest run 10 up, 6 down

Record highs

closing records

Dow Jones, daily closes 1916

Numbers mark the events below

Key Events in 1916

What happened, and how the Dow Jones moved — on the day (or the next trading day) and about a month later.

1
Monday, January 24

The Supreme Court upholds the federal income tax in Brushaber v. Union Pacific Railroad. Source

Dow Jones: −0.8% that day · −0.6% a month later
2
Friday, September 8

The Revenue Act of 1916 raises income tax rates and creates the federal estate tax. Source

Dow Jones: 0.0% that day · +8.9% a month later
3
Friday, September 22 From the data

Back above its pre-bear-market peak of 100.53 (November 19, 1909).
4
Thursday, September 28 From the data

Dow Jones sets the first of 14 record closing highs this year, at 103.11. Back above its pre-bear-market peak of 103.00 (January 19, 1906).
5
Wednesday, October 4

The Dow Jones Industrial Average expands from 12 to 20 stocks. Source

Dow Jones: 0.0% that day · +1.3% a month later
6
Tuesday, November 7

Woodrow Wilson is narrowly re-elected US president. Source

Dow Jones: −0.4% next trading day (Nov 8) · −0.4% a month later
7
Tuesday, November 21 From the data

Last record close of the year: 110.15.
8
Thursday, December 21 From the data

Biggest one-day fall of the year: −5.4%.
9
Friday, December 22 From the data

Biggest one-day rise of the year: +5.5%.

Biggest days of 1916

Best days		Worst days
Dec 22	+5.5%	Dec 21	−5.4%
Oct 16	+2.5%	Dec 14	−4.3%
Apr 24	+2.4%	Dec 12	−4.1%
Aug 9	+2.4%	Apr 22	−3.6%
May 6	+2.3%	Oct 9	−3.1%

Volatility: 17.0% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	90.58	−8.6%	98.81	90.58
Feb	91.03	+0.5%	96.15	90.89
Mar	93.25	+2.4%	96.08	90.52
Apr	89.78	−3.7%	94.46	84.96
May	91.80	+2.2%	92.62	87.71
Jun	89.58	−2.4%	93.61	87.68
Jul	89.25	−0.4%	90.53	86.40
Aug	92.25	+3.4%	93.83	88.15
Sep	102.90	+11.5%	103.73	91.19
Oct	104.61	+1.7%	105.28	98.94
Nov	105.97	+1.3%	110.15	105.63
Dec	95.00	−10.4%	106.81	90.16

1910 1911 1912 1913 1914 1915 1916 1917 1918 1919

Dow Jones in 1916: FAQ

How much did the Dow Jones Industrial Average fall in 1916?

What were the highest and lowest closes of the Dow Jones Industrial Average in 1916?

Highest: 110.15 on November 21, 1916. Lowest: 84.96 on April 22, 1916. It closed higher on 153 of 301 trading days.

What happened to the Dow Jones Industrial Average on January 24, 1916?

The Supreme Court upholds the federal income tax in Brushaber v. Union Pacific Railroad. The Dow Jones Industrial Average fell 0.8% that day, and was −0.6% a month later.

Did the Dow Jones Industrial Average reach a record high in 1916?

Yes — 14 record closing highs, the last at 110.15 on November 21, 1916.

Data: Daily closes since 26 May 1896. Saturday sessions were held until 1952. The NYSE was closed from 31 Jul to 11 Dec 1914. Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.