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Russell 2000 in 2008

The Russell 2000 fell 34.8% in 2008, from 766.03 at the end of 2007 to 499.45. Its highest close was 763.27 on Jun 5, and its lowest 385.31 on Nov 20. The biggest one-day fall was −11.9% on Dec 1 and the biggest rise +9.3% on Oct 13. Adjusted for inflation, it lost 34.9%.

Change in 2008
−34.8%
766.03 → 499.45
High
763.27
Jun 5
Low
385.31
Nov 20
After inflation
−34.9%
US CPI
Up days
122 of 253
longest run 6 up, 7 down
Below record
-41.6%
at the end of 2008

Russell 2000, daily closes 2008

Numbers mark the events below
421574728JanFebMarAprMayJunJulAugSepOctNovDec1Jan 17: Enters a bear market: 20% below its peak of 855.77 (July 13, 2007).2Jan 22: Fed makes an emergency inter-meeting cut of 75 basis points to 3.50%.3Mar 16: JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing.4Sep 7: Fannie Mae and Freddie Mac are placed into federal conservatorship.5Sep 15: Lehman Brothers files for Chapter 11 bankruptcy protection.6Oct 3: Emergency Economic Stabilization Act is signed, creating the $700 billion TARP.7Oct 13: Biggest one-day rise of the year: +9.3%.8Oct 27: Bear market low: 448.40, 47.6% below the peak.9Nov 19: Enters a bear market: 20% below its peak of 545.97 (November 4, 2008).10Nov 20: Bear market low: 385.31, 29.4% below the peak.11Dec 1: Biggest one-day fall of the year: −11.9%.12Dec 16: Fed cuts its federal funds target to a range of 0 to 0.25%.

Key Events in 2008

What happened, and how the Russell 2000 moved — on the day (or the next trading day) and about a month later.

  1. 1
    Thursday, January 17 From the data
    Enters a bear market: 20% below its peak of 855.77 (July 13, 2007).
  2. 2
    Tuesday, January 22
    Fed makes an emergency inter-meeting cut of 75 basis points to 3.50%. Source
    Russell 2000: −0.2% that day · +5.5% a month later
  3. 3
    Sunday, March 16
    JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. Source
    Russell 2000: −1.9% next trading day (Mar 17) · +4.4% a month later
  4. 4
    Sunday, September 7
    Fannie Mae and Freddie Mac are placed into federal conservatorship. Source
    Russell 2000: +1.9% next trading day (Sep 8) · −17.1% a month later
  5. 5
    Monday, September 15
    Lehman Brothers files for Chapter 11 bankruptcy protection. Source
    Russell 2000: −4.2% that day · −20.7% a month later
  6. 6
    Friday, October 3
    Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. Source
    Russell 2000: −2.9% that day · −15.7% a month later
  7. 7
    Monday, October 13 From the data
    Biggest one-day rise of the year: +9.3%.
  8. 8
    Monday, October 27 From the data
    Bear market low: 448.40, 47.6% below the peak.
  9. 9
    Wednesday, November 19 From the data
    Enters a bear market: 20% below its peak of 545.97 (November 4, 2008).
  10. 10
    Thursday, November 20 From the data
    Bear market low: 385.31, 29.4% below the peak.
  11. 11
    Monday, December 1 From the data
    Biggest one-day fall of the year: −11.9%.
  12. 12
    Tuesday, December 16
    Fed cuts its federal funds target to a range of 0 to 0.25%. Source
    Russell 2000: +6.7% that day · +2.2% a month later

Biggest days of 2008

Best daysWorst days
Oct 13+9.3%Dec 1−11.9%
Nov 13+8.5%Oct 15−9.5%
Oct 28+7.6%Oct 9−8.7%
Nov 24+7.4%Nov 19−7.9%
Sep 18+7.0%Nov 14−7.1%

Volatility: 46.4% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan713.30−6.9%753.55671.57
Feb686.18−3.8%730.50686.18
Mar687.97+0.3%705.27643.97
Apr716.18+4.1%725.37686.07
May748.28+4.5%748.28716.21
Jun689.66−7.8%763.27689.66
Jul714.52+3.6%719.19658.26
Aug739.50+3.5%754.38704.14
Sep679.58−8.1%753.74657.72
Oct537.52−20.9%671.59448.40
Nov473.14−12.0%545.97385.31
Dec499.45+5.6%499.45417.07

Other Markets in 2008

Change over the calendar year.

MarketChangeYear-end
Russell 2000−34.8%499.45
Dow Jones Industrial Average in 2008−33.8%8,776.39
S&P 500 in 2008−38.5%903.25
Nasdaq Composite in 2008−40.5%1,577.03
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 pp2.25%
2000200120022003200420052006200720082009

Russell 2000 in 2008: FAQ

How much did the Russell 2000 fall in 2008?

The Russell 2000 fell 34.8% in 2008, from 766.03 at the end of 2007 to 499.45. Its highest close was 763.27 on Jun 5, and its lowest 385.31 on Nov 20. The biggest one-day fall was −11.9% on Dec 1 and the biggest rise +9.3% on Oct 13. Adjusted for inflation, it lost 34.9%.

What were the highest and lowest closes of the Russell 2000 in 2008?

Highest: 763.27 on June 5, 2008. Lowest: 385.31 on November 20, 2008. It closed higher on 122 of 253 trading days.

What happened to the Russell 2000 on December 16, 2008?

Fed cuts its federal funds target to a range of 0 to 0.25%. The Russell 2000 rose 6.7% that day, and was +2.2% a month later.

Data: Daily closes since Sep 1987. 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.