Dow Jones in 1998

The Dow Jones Industrial Average rose 16.1% in 1998, from 7,908.24 at the end of 1997 to 9,181.43. Its highest close was 9,374.27 on Nov 23 — a record that stood until January 6, 1999, and its lowest 7,539.06 on Aug 31. The biggest one-day fall was −6.4% on Aug 31 and the biggest rise +5.0% on Sep 8. Adjusted for inflation, it gained 14.3%.

Change in 1998

+16.1%

7,908.24 → 9,181.43

High

9,374.27

Nov 23

Low

7,539.06

Aug 31

After inflation

+14.3%

US CPI

Up days

136 of 252

longest run 8 up, 5 down

Record highs

closing records

Dow Jones, daily closes 1998

Numbers mark the events below

Key Events in 1998

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

1
Tuesday, February 10 From the data

Dow Jones sets the first of 30 record closing highs this year, at 8,295.61.
2
Monday, April 6 From the data

Dow Jones closes above 9,000 for the first time (9,033.22).
3
Monday, August 17

Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments. Source

Dow Jones: +1.8% that day · −4.8% a month later
4
Monday, August 31 From the data

Biggest one-day fall of the year: −6.4%.
5
Tuesday, September 8 From the data

Biggest one-day rise of the year: +5.0%.
6
Wednesday, September 23

New York Fed organizes a $3.6 billion recapitalization of Long-Term Capital Management by 14 institutions. Source

Dow Jones: +3.3% that day · +7.9% a month later
7
Thursday, October 15

Fed cuts its federal funds target to 5.00%. Source

Dow Jones: +4.1% that day · +10.8% a month later
8
Monday, November 23 From the data

Last record close of the year: 9,374.27.

Biggest days of 1998

Best days		Worst days
Sep 8	+5.0%	Aug 31	−6.4%
Oct 15	+4.1%	Aug 27	−4.2%
Sep 1	+3.8%	Aug 4	−3.4%
Sep 23	+3.3%	Sep 10	−3.2%
Feb 2	+2.5%	Sep 30	−2.9%

Volatility: 19.8% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	7,906.50	0.0%	7,978.99	7,580.41
Feb	8,545.71	+8.1%	8,545.71	8,107.78
Mar	8,799.80	+3.0%	8,906.42	8,444.32
Apr	9,063.36	+3.0%	9,184.93	8,868.31
May	8,899.95	−1.8%	9,211.83	8,899.95
Jun	8,952.01	+0.6%	9,069.59	8,627.92
Jul	8,883.29	−0.8%	9,337.97	8,883.29
Aug	7,539.06	−15.1%	8,786.73	7,539.06
Sep	7,842.62	+4.0%	8,154.41	7,615.55
Oct	8,592.11	+9.6%	8,592.11	7,632.53
Nov	9,116.55	+6.1%	9,374.27	8,706.15
Dec	9,181.43	+0.7%	9,320.97	8,695.59

Other Markets in 1998

Change over the calendar year.

Market	Change	Year-end
Dow Jones	+16.1%	9,181.43
S&P 500 in 1998	+26.7%	1,229.23
Nasdaq Composite in 1998	+39.6%	2,192.69
Russell 2000 in 1998	−3.4%	421.96
Nikkei 225 in 1998	−9.3%	13,842.17
Gold in 1998	−0.8%	$287.80
Silver in 1998	−16.2%	$5.01
WTI crude oil in 1998	−31.2%	$12.14
Brent crude oil in 1998	−33.5%	$10.54
US 10-year Treasury yield in 1998	−1.10 pp	4.65%

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

Dow Jones in 1998: FAQ

How much did the Dow Jones Industrial Average rise in 1998?

What were the highest and lowest closes of the Dow Jones Industrial Average in 1998?

Highest: 9,374.27 on November 23, 1998. Lowest: 7,539.06 on August 31, 1998. It closed higher on 136 of 252 trading days.

What happened to the Dow Jones Industrial Average on October 15, 1998?

Fed cuts its federal funds target to 5.00%. The Dow Jones Industrial Average rose 4.1% that day, and was +10.8% a month later.

Did the Dow Jones Industrial Average reach a record high in 1998?

Yes — 30 record closing highs, the last at 9,374.27 on November 23, 1998.

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.