S&P 500 in 1991

The S&P 500 rose 26.3% in 1991, from 330.22 at the end of 1990 to 417.09. Its highest close was 417.09 on Dec 31 — a record that stood until January 2, 1992, and its lowest 311.49 on Jan 9. The biggest one-day fall was −3.7% on Nov 15 and the biggest rise +3.7% on Jan 17. Adjusted for inflation, it gained 22.6%.

Change in 1991

+26.3%

330.22 → 417.09

High

417.09

Dec 31

Low

311.49

Jan 9

After inflation

+22.6%

US CPI

Up days

124 of 253

longest run 7 up, 8 down

Record highs

closing records

S&P 500, daily closes 1991

Numbers mark the events below

Key Events in 1991

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

1
Thursday, January 17

US-led coalition begins Operation Desert Storm air campaign against Iraq. Source

S&P 500: +3.7% that day · +15.2% a month later
2
Wednesday, February 13 From the data

sets the first of 22 record closing highs this year, at 369.02.
3
Thursday, February 28

Operation Desert Storm ends after the 100-hour ground campaign. Source

S&P 500: −0.2% that day · +2.0% a month later
4
Monday, August 19

Hardliners launch a coup attempt against Soviet leader Mikhail Gorbachev; it collapses within days. Source

S&P 500: −2.4% that day · 0.0% a month later
5
Friday, November 15 From the data

Biggest one-day fall of the year: −3.7%.
6
Thursday, December 26

The Soviet Union is formally dissolved. Source

S&P 500: +1.4% that day · +4.0% a month later
7
Thursday, December 26 From the data

closes above 400 for the first time (404.84).
8
Tuesday, December 31 From the data

Last record close of the year: 417.09.

Biggest days of 1991

Best days		Worst days
Jan 17	+3.7%	Nov 15	−3.7%
Aug 21	+2.9%	Aug 19	−2.4%
Feb 11	+2.6%	May 10	−2.0%
Dec 23	+2.5%	Jun 24	−1.8%
Apr 2	+2.2%	Jan 7	−1.7%

Volatility: 14.3% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	343.93	+4.2%	343.93	311.49
Feb	367.07	+6.7%	369.39	343.05
Mar	375.22	+2.2%	376.72	366.58
Apr	375.34	0.0%	390.45	371.30
May	389.83	+3.9%	389.83	368.57
Jun	371.16	−4.8%	388.06	370.65
Jul	387.81	+4.5%	387.81	373.33
Aug	395.43	+2.0%	396.64	376.47
Sep	387.86	−1.9%	392.15	383.59
Oct	392.45	+1.2%	392.96	376.80
Nov	375.22	−4.4%	397.41	375.22
Dec	417.09	+11.2%	417.09	377.39

Other Markets in 1991

Change over the calendar year.

Market	Change	Year-end
S&P 500	+26.3%	417.09
Dow Jones Industrial Average in 1991	+20.3%	3,168.83
Nasdaq Composite in 1991	+56.9%	586.34
Russell 2000 in 1991	+43.7%	189.94
Nikkei 225 in 1991	−3.6%	22,984.00
Gold in 1991	−8.6%	$353.15
Silver in 1991	−7.9%	$3.86
WTI crude oil in 1991	−32.8%	$19.15
Brent crude oil in 1991	−37.4%	$17.75
US 10-year Treasury yield in 1991	−1.37 pp	6.71%

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

S&P 500 in 1991: FAQ

How much did the S&P 500 rise in 1991?

What were the highest and lowest closes of the S&P 500 in 1991?

Highest: 417.09 on December 31, 1991. Lowest: 311.49 on January 9, 1991. It closed higher on 124 of 253 trading days.

What happened to the S&P 500 on January 17, 1991?

US-led coalition begins Operation Desert Storm air campaign against Iraq. The S&P 500 rose 3.7% that day, and was +15.2% a month later.

Did the S&P 500 reach a record high in 1991?

Yes — 22 record closing highs, the last at 417.09 on December 31, 1991.

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.