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Dow Jones in 1923

The Dow Jones Industrial Average fell 3.3% in 1923, from 98.73 at the end of 1922 to 95.52. Its highest close was 105.38 on Mar 20, and its lowest 85.76 on Oct 27. The biggest one-day fall was −3.0% on Jul 27 and the biggest rise +3.0% on Oct 31. Adjusted for inflation, it lost 5.5%.

Change in 1923
−3.3%
98.73 → 95.52
High
105.38
Mar 20
Low
85.76
Oct 27
After inflation
−5.5%
US CPI
Up days
155 of 300
longest run 6 up, 8 down
Below record
-20.1%
at the end of 1923

Dow Jones, daily closes 1923

Numbers mark the events below
8896104JanFebMarAprMayJunJulAugSepOctNovDec1Jan 11: French and Belgian troops begin the occupation of the Ruhr.2Jul 27: Biggest one-day fall of the year: −3.0%.3Aug 2: President Harding dies; Calvin Coolidge becomes US president.4Sep 1: The Great Kanto earthquake strikes Tokyo and Yokohama.5Oct 31: Biggest one-day rise of the year: +3.0%.6Nov 20: Germany sets the Rentenmark at one trillion paper marks, ending hyperinflation.

Key Events in 1923

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

  1. 1
    Thursday, January 11
    French and Belgian troops begin the occupation of the Ruhr. Source
    Dow Jones: +0.9% that day · +2.1% a month later
  2. 2
    Friday, July 27 From the data
    Biggest one-day fall of the year: −3.0%.
  3. 3
    Thursday, August 2
    President Harding dies; Calvin Coolidge becomes US president. Source
    Dow Jones: +0.3% that day · +6.0% a month later
  4. 4
    Saturday, September 1
    The Great Kanto earthquake strikes Tokyo and Yokohama. Source
    Dow Jones: −0.3% that day · −5.3% a month later
  5. 5
    Wednesday, October 31 From the data
    Biggest one-day rise of the year: +3.0%.
  6. 6
    Tuesday, November 20
    Germany sets the Rentenmark at one trillion paper marks, ending hyperinflation. Source
    Dow Jones: −0.1% that day · +3.9% a month later

Biggest days of 1923

Best daysWorst days
Oct 31+3.0%Jul 27−3.0%
Oct 3+2.7%Sep 13−2.3%
May 24+2.3%Apr 30−2.2%
Nov 19+1.9%Jun 1−2.2%
May 9+1.7%Jun 18−2.2%

Volatility: 13.0% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan97.43−1.3%99.4296.96
Feb103.90+6.6%103.9097.71
Mar102.75−1.1%105.38102.36
Apr98.38−4.3%102.7098.38
May97.53−0.9%98.1992.77
Jun87.85−9.9%97.2487.85
Jul86.91−1.1%91.7286.91
Aug93.46+7.5%93.7087.20
Sep87.89−6.0%93.6187.89
Oct88.53+0.7%90.4585.76
Nov92.34+4.3%92.8888.41
Dec95.52+3.4%95.6192.64
1920192119221923192419251926192719281929

Dow Jones in 1923: FAQ

How much did the Dow Jones Industrial Average fall in 1923?

The Dow Jones Industrial Average fell 3.3% in 1923, from 98.73 at the end of 1922 to 95.52. Its highest close was 105.38 on Mar 20, and its lowest 85.76 on Oct 27. The biggest one-day fall was −3.0% on Jul 27 and the biggest rise +3.0% on Oct 31. Adjusted for inflation, it lost 5.5%.

What were the highest and lowest closes of the Dow Jones Industrial Average in 1923?

Highest: 105.38 on March 20, 1923. Lowest: 85.76 on October 27, 1923. It closed higher on 155 of 300 trading days.

What happened to the Dow Jones Industrial Average on January 11, 1923?

French and Belgian troops begin the occupation of the Ruhr. The Dow Jones Industrial Average rose 0.9% that day, and was +2.1% a month later.

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.