Peak, bottom, and how long it took to get back to break-even, plus what $10,000 would have been worth at each bottom.
Data as of September 10, 2026
Worst fall on record
October 9, 2007 to March 9, 2009, falling for 1 year 5 months
The 10 deepest falls of 10% or more since January 29, 1993.
Back at that peak on August 16, 2012
What $10,000 was worth at the bottom
As of September 9, 2026
In an ordinary year it moves about ±18.5% around its own trend.
Total return with dividends reinvested. Monthly lows; the line touches 0 % only at a new high.
| Year | Worst reading | Date |
|---|---|---|
| 1993 | -4.7% | April 26, 1993 |
| 1994 | -8.5% | April 4, 1994 |
| 1995 | -3.2% | January 3, 1995 |
| 1996 | -7.6% | July 15, 1996 |
| 1997 | -11.2% | October 27, 1997 |
| 1998 | -19.0% | August 31, 1998 |
| 1999 | -11.7% | October 15, 1999 |
| 2000 | -17.1% | December 20, 2000 |
| 2001 | -35.6% | September 21, 2001 |
| 2002 | -47.5% | October 9, 2002 |
| 2003 | -45.6% | March 11, 2003 |
| 2004 | -26.1% | August 6, 2004 |
| 2005 | -20.1% | April 20, 2005 |
| 2006 | -12.4% | June 13, 2006 |
| 2007 | -9.9% | November 26, 2007 |
| 2008 | -50.8% | November 20, 2008 |
| 2009 | -55.2% | March 9, 2009 |
| 2010 | -30.6% | July 2, 2010 |
| 2011 | -23.5% | October 3, 2011 |
| 2012 | -10.7% | January 3, 2012 |
| 2013 | -5.6% | June 24, 2013 |
| 2014 | -7.3% | October 16, 2014 |
| 2015 | -11.9% | August 25, 2015 |
| 2016 | -13.0% | February 11, 2016 |
| 2017 | -2.6% | April 13, 2017 |
| 2018 | -19.4% | December 24, 2018 |
| 2019 | -16.0% | January 3, 2019 |
| 2020 | -33.7% | March 23, 2020 |
| 2021 | -5.1% | October 4, 2021 |
| 2022 | -24.5% | October 12, 2022 |
| 2023 | -19.3% | January 5, 2023 |
| 2024 | -8.4% | August 5, 2024 |
| 2025 | -18.8% | April 8, 2025 |
| 2026 | -8.9% | March 30, 2026 |
| Peak | Bottom | Fall | Peak to bottom | Peak to recovery | Your amount at the bottom |
|---|---|---|---|---|---|
| PeakOctober 9, 2007 | BottomMarch 9, 2009 | Fall-55.2% | Peak to bottom1 year 5 months | Peak to recovery4 years 10 months | Your amount at the bottom$4,481 |
| PeakMarch 24, 2000 | BottomOctober 9, 2002 | Fall-47.5% | Peak to bottom2 years 7 months | Peak to recovery6 years 7 months | Your amount at the bottom$5,248 |
| PeakFebruary 19, 2020 | BottomMarch 23, 2020 | Fall-33.7% | Peak to bottom1 month | Peak to recovery6 months | Your amount at the bottom$6,628 |
| PeakJanuary 3, 2022 | BottomOctober 12, 2022 | Fall-24.5% | Peak to bottom9 months | Peak to recovery1 year 11 months | Your amount at the bottom$7,550 |
| PeakSeptember 20, 2018 | BottomDecember 24, 2018 | Fall-19.3% | Peak to bottom3 months | Peak to recovery7 months | Your amount at the bottom$8,065 |
| PeakJuly 20, 1998 | BottomAugust 31, 1998 | Fall-19.0% | Peak to bottom1 month | Peak to recovery4 months | Your amount at the bottom$8,097 |
| PeakFebruary 19, 2025 | BottomApril 8, 2025 | Fall-18.8% | Peak to bottom2 months | Peak to recovery4 months | Your amount at the bottom$8,124 |
| PeakJuly 20, 2015 | BottomFebruary 11, 2016 | Fall-13.0% | Peak to bottom7 months | Peak to recovery9 months | Your amount at the bottom$8,698 |
| PeakJuly 16, 1999 | BottomOctober 15, 1999 | Fall-11.7% | Peak to bottom3 months | Peak to recovery4 months | Your amount at the bottom$8,830 |
| PeakOctober 7, 1997 | BottomOctober 27, 1997 | Fall-11.2% | Peak to bottomunder a month | Peak to recovery2 months | Your amount at the bottom$8,880 |
Depth is measured from the previous all-time high, and “peak to recovery” runs from that high back to it — not from the bottom, which gives a much shorter number.
The worst fall was -55.2%, from October 9, 2007 to March 9, 2009 — $10,000 invested at that peak was worth $4,481 at the bottom. It took 4 years 10 months from that peak to close back at it, on August 16, 2012. Today it sits 2.0% below its all-time high.
Computed from daily closing prices with dividends reinvested, snapshotted September 10, 2026.
The tool opens with S&P 500 already loaded. Change the symbol or the amount and it recomputes from the same data.
This page shows what actually happened to a real price series — nothing more. An asset that recovered every time so far carries no promise that it will again, and the next fall will not be the last one. Prices exclude trading costs, spreads, currency conversion and taxes, all of which make a real-world fall worse than the one drawn here. Nothing on this page is investment advice; do your own research or speak to a regulated adviser before investing.
My Financial Freedom Tracker follows your actual holdings, your net worth and your path to financial independence — in one place, in any currency.
StartBudget, net worth, portfolio and your FIRE plan — all in one dashboard.
Enter your gain and how long you held it, then compare the tax across 28 countries ranked — with the holding-period rules that reorder the list.
Compare 28 countriesCalculate your path to financial independence with Coast FIRE, Barista FIRE, and custom withdrawal strategies.
Try the FIRE CalculatorProject net worth and cash flow across a whole life — add the car, the career break, the child and the pension, and see the year each one lands.
Open the Life PlannerFind the amount you need today so compound interest carries you to FIRE — no more contributions needed.
Find your Coast FIRE numberFind the portfolio size that lets you downshift to part-time work, with healthcare bridge costs built in.
Try Free Barista FIRE CalculatorSee exactly how compounding grows your money. Side-by-side scenarios, expense-ratio drag, and real (inflation-adjusted) returns built in.
Open the calculator