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Dow Jones in 1940

The Dow Jones Industrial Average fell 12.7% in 1940, from 150.24 at the end of 1939 to 131.13. Its highest close was 152.80 on Jan 3, and its lowest 111.84 on Jun 10. The biggest one-day fall was −6.8% on May 14 and the biggest rise +4.7% on Jun 12. Adjusted for inflation, it lost 13.3%.

Change in 1940
−12.7%
150.24 → 131.13
High
152.80
Jan 3
Low
111.84
Jun 10
After inflation
−13.3%
US CPI
Up days
158 of 302
longest run 8 up, 7 down
Below record
-65.6%
at the end of 1940

Dow Jones, daily closes 1940

Numbers mark the events below
116132149JanFebMarAprMayJunJulAugSepOctNovDec1May 10: Germany invades Belgium, the Netherlands, Luxembourg and France.2May 14: Biggest one-day fall of the year: −6.8%.3May 17: Enters a bear market: 20% below its peak of 155.92 (September 12, 1939).4Jun 10: Bear market low: 111.84, 28.3% below the peak.5Jun 12: Biggest one-day rise of the year: +4.7%.6Jun 22: France signs an armistice with Germany.7Aug 22: Roosevelt signs the Investment Company Act of 1940.8Sep 27: Germany, Italy and Japan sign the Tripartite Pact.

Key Events in 1940

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

  1. 1
    Friday, May 10
    Germany invades Belgium, the Netherlands, Luxembourg and France. Source
    Dow Jones: −2.3% that day · −21.9% a month later
  2. 2
    Tuesday, May 14 From the data
    Biggest one-day fall of the year: −6.8%.
  3. 3
    Friday, May 17 From the data
    Enters a bear market: 20% below its peak of 155.92 (September 12, 1939).
  4. 4
    Monday, June 10 From the data
    Bear market low: 111.84, 28.3% below the peak.
  5. 5
    Wednesday, June 12 From the data
    Biggest one-day rise of the year: +4.7%.
  6. 6
    Saturday, June 22
    France signs an armistice with Germany. Source
    Dow Jones: +0.2% that day · +0.2% a month later
  7. 7
    Thursday, August 22
    Roosevelt signs the Investment Company Act of 1940. Source
    Dow Jones: +1.1% that day · +3.5% a month later
  8. 8
    Friday, September 27
    Germany, Italy and Japan sign the Tripartite Pact. Source
    Dow Jones: −1.3% that day · −1.1% a month later

Biggest days of 1940

Best daysWorst days
Jun 12+4.7%May 14−6.8%
Nov 7+4.4%May 21−6.8%
Jun 11+3.7%May 13−5.0%
Jul 30+2.3%May 17−4.8%
Sep 23+2.0%Aug 13−3.4%

Volatility: 17.3% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan145.33−3.3%152.80144.65
Feb146.54+0.8%148.94145.00
Mar147.95+1.0%148.37145.59
Apr148.43+0.3%151.29146.80
May116.22−21.7%148.17113.94
Jun121.87+4.9%123.86111.84
Jul126.14+3.5%126.14120.96
Aug129.42+2.6%129.42121.28
Sep132.64+2.5%135.10127.74
Oct134.61+1.5%135.09130.39
Nov131.00−2.7%138.12129.78
Dec131.13+0.1%132.35128.41
1940194119421943194419451946194719481949

Dow Jones in 1940: FAQ

How much did the Dow Jones Industrial Average fall in 1940?

The Dow Jones Industrial Average fell 12.7% in 1940, from 150.24 at the end of 1939 to 131.13. Its highest close was 152.80 on Jan 3, and its lowest 111.84 on Jun 10. The biggest one-day fall was −6.8% on May 14 and the biggest rise +4.7% on Jun 12. Adjusted for inflation, it lost 13.3%.

What were the highest and lowest closes of the Dow Jones Industrial Average in 1940?

Highest: 152.80 on January 3, 1940. Lowest: 111.84 on June 10, 1940. It closed higher on 158 of 302 trading days.

What happened to the Dow Jones Industrial Average on May 10, 1940?

Germany invades Belgium, the Netherlands, Luxembourg and France. The Dow Jones Industrial Average fell 2.3% that day, and was −21.9% 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.