Dow Jones in 2008

The Dow Jones Industrial Average fell 33.8% in 2008, from 13,265 at the end of 2007 to 8,776.39. Its highest close was 13,058 on May 2, and its lowest 7,552.29 on Nov 20. The biggest one-day fall was −7.9% on Oct 15 and the biggest rise +11.1% on Oct 13. Adjusted for inflation, it lost 33.9%.

Change in 2008

−33.8%

13,265 → 8,776.39

High

13,058

May 2

Low

7,552.29

Nov 20

After inflation

−33.9%

US CPI

Up days

121 of 253

longest run 5 up, 8 down

Below record

-38.0%

at the end of 2008

Dow Jones, daily closes 2008

Numbers mark the events below

Key Events in 2008

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

1
Tuesday, January 22

Fed makes an emergency inter-meeting cut of 75 basis points to 3.50%. Source

Dow Jones: −1.1% that day · +2.7% a month later
2
Sunday, March 16

JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. Source

Dow Jones: +0.2% next trading day (Mar 17) · +3.4% a month later
3
Wednesday, July 2 From the data

Enters a bear market: 20% below its peak of 14,165 (October 9, 2007).
4
Sunday, September 7

Fannie Mae and Freddie Mac are placed into federal conservatorship. Source

Dow Jones: +2.6% next trading day (Sep 8) · −11.3% a month later
5
Monday, September 15

Lehman Brothers files for Chapter 11 bankruptcy protection. Source

Dow Jones: −4.4% that day · −17.8% a month later
6
Friday, October 3

Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. Source

Dow Jones: −1.5% that day · −11.0% a month later
7
Monday, October 13 From the data

Biggest one-day rise of the year: +11.1%.
8
Wednesday, October 15 From the data

Biggest one-day fall of the year: −7.9%.
9
Tuesday, December 16

Fed cuts its federal funds target to a range of 0 to 0.25%. Source

Dow Jones: +4.2% that day · −4.1% a month later

Biggest days of 2008

Best days		Worst days
Oct 13	+11.1%	Oct 15	−7.9%
Oct 28	+10.9%	Dec 1	−7.7%
Nov 13	+6.7%	Oct 9	−7.3%
Nov 21	+6.5%	Sep 29	−7.0%
Nov 24	+4.9%	Oct 22	−5.7%

Volatility: 37.9% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	12,650	−4.6%	13,057	11,971
Feb	12,266	−3.0%	12,743	12,182
Mar	12,263	0.0%	12,549	11,740
Apr	12,820	+4.5%	12,892	12,302
May	12,638	−1.4%	13,058	12,480
Jun	11,350	−10.2%	12,604	11,347
Jul	11,378	+0.2%	11,632	10,963
Aug	11,544	+1.5%	11,782	11,284
Sep	10,851	−6.0%	11,533	10,365
Oct	9,325.01	−14.1%	10,831	8,175.77
Nov	8,829.04	−5.3%	9,625.28	7,552.29
Dec	8,776.39	−0.6%	8,934.18	8,149.09

Other Markets in 2008

Change over the calendar year.

Market	Change	Year-end
Dow Jones	−33.8%	8,776.39
S&P 500 in 2008	−38.5%	903.25
Nasdaq Composite in 2008	−40.5%	1,577.03
Russell 2000 in 2008	−34.8%	499.45
Nikkei 225 in 2008	−42.1%	8,859.56
Gold in 2008	+4.3%	$869.75
Silver in 2008	−26.9%	$10.79
WTI crude oil in 2008	−53.5%	$44.60
Brent crude oil in 2008	−61.8%	$35.82
US 10-year Treasury yield in 2008	−1.79 pp	2.25%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Dow Jones in 2008: FAQ

How much did the Dow Jones Industrial Average fall in 2008?

What were the highest and lowest closes of the Dow Jones Industrial Average in 2008?

Highest: 13,058 on May 2, 2008. Lowest: 7,552.29 on November 20, 2008. It closed higher on 121 of 253 trading days.

What happened to the Dow Jones Industrial Average on September 15, 2008?

Lehman Brothers files for Chapter 11 bankruptcy protection. The Dow Jones Industrial Average fell 4.4% that day, and was −17.8% 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.