S&P 500 in 1979

The S&P 500 rose 12.3% in 1979, from 96.11 at the end of 1978 to 107.94. Its highest close was 111.27 on Oct 5, and its lowest 96.13 on Feb 27. The biggest one-day fall was −3.0% on Oct 9 and the biggest rise +2.1% on Sep 20. Adjusted for inflation, it lost 0.9%.

Change in 1979

+12.3%

96.11 → 107.94

High

111.27

Oct 5

Low

96.13

Feb 27

After inflation

−0.9%

US CPI

Up days

140 of 253

longest run 5 up, 7 down

Below record

-10.2%

at the end of 1979

S&P 500, daily closes 1979

Numbers mark the events below

Key Events in 1979

What happened, and how the S&P 500 moved — on the day (or the next trading day) and about a month later.

1
Tuesday, January 16

The Shah leaves Iran during the Iranian Revolution. Source

S&P 500: −1.2% that day · −1.7% a month later
2
Monday, August 6

Paul Volcker takes office as Federal Reserve chairman. Source

S&P 500: +0.2% that day · +3.3% a month later
3
Thursday, September 20 From the data

Biggest one-day rise of the year: +2.1%.
4
Saturday, October 6

Volcker announces the Fed will target bank reserves instead of the federal funds rate. Source

S&P 500: −1.2% next trading day (Oct 8) · −8.5% a month later
5
Tuesday, October 9 From the data

Biggest one-day fall of the year: −3.0%.
6
Sunday, November 4

Students seize the US Embassy in Tehran, starting the Iran hostage crisis. Source

S&P 500: −0.7% next trading day (Nov 5) · +4.2% a month later
7
Tuesday, December 25

Soviet forces begin the invasion of Afghanistan. Source

S&P 500: +0.1% next trading day (Dec 26) · +5.6% a month later

Biggest days of 1979

Best days		Worst days
Sep 20	+2.1%	Oct 9	−3.0%
Nov 26	+2.0%	Oct 19	−1.9%
Nov 12	+2.0%	Sep 4	−1.7%
Oct 30	+1.9%	May 7	−1.7%
May 17	+1.5%	Feb 27	−1.6%

Volatility: 10.8% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	99.93	+4.0%	101.86	96.73
Feb	96.28	−3.7%	99.96	96.13
Mar	101.59	+5.5%	102.48	96.90
Apr	101.76	+0.2%	103.34	100.90
May	99.08	−2.6%	101.81	98.06
Jun	102.91	+3.9%	102.91	99.17
Jul	103.81	+0.9%	104.47	101.59
Aug	109.32	+5.3%	109.32	104.04
Sep	109.32	0.0%	110.51	106.40
Oct	101.82	−6.9%	111.27	100.00
Nov	106.16	+4.3%	106.81	99.87
Dec	107.94	+1.7%	109.33	105.83

Other Markets in 1979

Change over the calendar year.

Market	Change	Year-end
S&P 500	+12.3%	107.94
Dow Jones Industrial Average in 1979	+4.2%	838.74
Nasdaq Composite in 1979	+28.1%	151.14
Gold in 1979	+126.5%	$512.00
Silver in 1979	+434.8%	$32.20
US 10-year Treasury yield in 1979	+1.18 pp	10.33%

1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

S&P 500 in 1979: FAQ

How much did the S&P 500 rise in 1979?

What were the highest and lowest closes of the S&P 500 in 1979?

Highest: 111.27 on October 5, 1979. Lowest: 96.13 on February 27, 1979. It closed higher on 140 of 253 trading days.

What happened to the S&P 500 on October 6, 1979?

Volcker announces the Fed will target bank reserves instead of the federal funds rate. The S&P 500 fell 1.2% on the next trading day (October 8, 1979), and was −8.5% a month later.

Data: Daily closes since 1950 (price index, excluding dividends). 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.