S&P 500
^GSPCUSATracks 500 of the largest publicly traded US companies.
As of Nov 5, 2026, S&P 500 (^GSPC) closed at 7,353.73 pts, representing a -5.95% drawdown from its all-time high of 7,818.93 pts recorded on Oct 6, 2026 (30 days ago). Returning to all-time high requires a +6.3% gain.
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Drawdowns of Top Holdings
Historical Maximum Drawdowns & Annual Drops
Deepest peak-to-trough drop recorded within each calendar year.
Over the last 10 completed years, S&P 500 experienced an average intra-year drawdown of -13.6% lasting an average of 73 days peak-to-trough, with its deepest drawdown reaching -33.9% in 2020.
| Year | Max Intra-Year Drawdown | Peak High | Bottom Trough | Peak-to-Trough | Yearly Return |
|---|---|---|---|---|---|
| 2025 | -18.90%Correction | Feb 19, 2025 6,144.15 | Apr 8, 2025 4,982.77 | 48 days | +16.39% |
| 2024 | -8.49%Pullback | Jul 16, 2024 5,667.20 | Aug 5, 2024 5,186.33 | 20 days | +23.31% |
| 2023 | -10.28%Correction | Jul 31, 2023 4,588.96 | Oct 27, 2023 4,117.37 | 88 days | +24.23% |
| 2022 | -25.43%Bear Market | Jan 3, 2022 4,796.56 | Oct 12, 2022 3,577.03 | 282 days | -19.44% |
| 2021 | -5.21%Pullback | Sep 2, 2021 4,536.95 | Oct 4, 2021 4,300.46 | 32 days | +26.89% |
| 2020 | -33.92%Bear Market | Feb 19, 2020 3,386.15 | Mar 23, 2020 2,237.40 | 33 days | +16.26% |
| 2019 | -6.84%Pullback | Apr 30, 2019 2,945.83 | Jun 3, 2019 2,744.45 | 34 days | +28.88% |
| 2018 | -19.78%Correction | Sep 20, 2018 2,930.75 | Dec 24, 2018 2,351.10 | 95 days | -6.24% |
| 2017 | -2.80%Minor Dip | Mar 1, 2017 2,395.96 | Apr 13, 2017 2,328.95 | 43 days | +19.42% |
| 2016 | -4.41%Minor Dip | Sep 8, 2016 2,181.30 | Nov 4, 2016 2,085.18 | 57 days | +2.64% |
S&P 500 Historical Maximum Drawdown & Bear Market History
Historical Maximum Drawdowns & Major Crashes
Throughout modern market history, the S&P 500 has weathered severe cyclical drawdowns. The deepest peak-to-trough declines include the 1973–1974 stagflation crash (-48.2%), the Dot-com bubble unwinding (-49.1% from 2000 to 2002), and the 2007–2009 Global Financial Crisis, which produced a -56.8% collapse over 517 days down to a trough of 666.79. In recent cycles, the March 2020 COVID shock marked the swiftest -30% drop on record (-33.9% in 33 calendar days), followed by the 2022 rate-hiking bear market (-25.4% over 282 days).
Typical Pullback Frequency
While severe bear markets exceeding -20% occur roughly once every 6 to 7 years, routine pullbacks between -5% and -10% occur on average once per calendar year, resetting short-term market leverage without breaking the secular trend. Official corrections (-10% to -19.9%) occur every 2.5 to 3 years on average.
Historical Recovery Timelines
Historical recovery times vary dramatically based on the crash catalyst. The 2020 pandemic collapse staged one of the fastest V-shaped recoveries on record, reclaiming its prior peak in just 148 days (under 5 months). In contrast, structural balance-sheet recessions require substantially longer: the 2007–2009 crisis kept the index underwater for over 5.5 years (2,010 days) before printing new highs in March 2013, while the 2000 Dot-com crash required more than 7 years (2,683 days) to fully recover. Across all postwar bear markets, the median time from trough to full recovery is approximately 24 months.