S&P 500 in 1989

The S&P 500 rose 27.3% in 1989, from 277.72 at the end of 1988 to 353.40. Its highest close was 359.80 on Oct 9 — a record that stood until May 29, 1990, and its lowest 275.31 on Jan 3. The biggest one-day fall was −6.1% on Oct 13 and the biggest rise +2.8% on Oct 16. Adjusted for inflation, it gained 21.6%.

Change in 1989

+27.3%

277.72 → 353.40

High

359.80

Oct 9

Low

275.31

Jan 3

After inflation

+21.6%

US CPI

Up days

150 of 252

longest run 10 up, 6 down

Record highs

closing records

S&P 500, daily closes 1989

Numbers mark the events below

Key Events in 1989

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

1
Wednesday, July 26 From the data

sets the first of 13 record closing highs this year, at 338.05. Back above its pre-bear-market peak of 336.77 (August 25, 1987).
2
Wednesday, August 9

Bush signs FIRREA, creating the Resolution Trust Corporation to dispose of failed thrifts. Source

S&P 500: −0.7% that day · −0.3% a month later
3
Monday, October 9 From the data

Last record close of the year: 359.80.
4
Friday, October 13

Friday the 13th mini-crash: Dow falls 190.58 points (6.91%). Source

S&P 500: −6.1% that day · −4.6% a month later
5
Monday, October 16 From the data

Biggest one-day rise of the year: +2.8%.
6
Thursday, November 9

East Germany opens the Berlin Wall. Source

S&P 500: −0.5% that day · +3.1% a month later

Biggest days of 1989

Best days		Worst days
Oct 16	+2.8%	Oct 13	−6.1%
May 12	+2.2%	Mar 17	−2.3%
Aug 24	+2.0%	Jun 29	−1.9%
Jun 23	+1.8%	Dec 18	−1.8%
Apr 14	+1.7%	Feb 22	−1.7%

Volatility: 13.1% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	297.47	+7.1%	297.47	275.31
Feb	288.86	−2.9%	299.63	287.13
Mar	294.87	+2.1%	299.44	287.11
Apr	309.64	+5.0%	309.64	295.29
May	320.52	+3.5%	321.98	305.19
Jun	317.98	−0.8%	328.44	317.98
Jul	346.08	+8.8%	346.08	319.23
Aug	351.45	+1.6%	352.09	340.67
Sep	349.15	−0.7%	353.73	343.16
Oct	340.36	−2.5%	359.80	333.65
Nov	345.99	+1.7%	345.99	332.61
Dec	353.40	+2.1%	353.40	342.46

Other Markets in 1989

Change over the calendar year.

Market	Change	Year-end
S&P 500	+27.3%	353.40
Dow Jones Industrial Average in 1989	+27.0%	2,753.20
Nasdaq Composite in 1989	+19.2%	454.80
Russell 2000 in 1989	+14.2%	168.31
Nikkei 225 in 1989	+29.0%	38,916.00
Gold in 1989	−2.8%	$398.60
Silver in 1989	−13.8%	$5.22
WTI crude oil in 1989	+27.6%	$21.84
Brent crude oil in 1989	+29.7%	$21.05
US 10-year Treasury yield in 1989	−1.21 pp	7.93%

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989

S&P 500 in 1989: FAQ

How much did the S&P 500 rise in 1989?

What were the highest and lowest closes of the S&P 500 in 1989?

Highest: 359.80 on October 9, 1989. Lowest: 275.31 on January 3, 1989. It closed higher on 150 of 252 trading days.

What happened to the S&P 500 on October 13, 1989?

Friday the 13th mini-crash: Dow falls 190.58 points (6.91%). The S&P 500 fell 6.1% that day, and was −4.6% a month later.

Did the S&P 500 reach a record high in 1989?

Yes — 13 record closing highs, the last at 359.80 on October 9, 1989.

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.