History of Dow Jones Industrial Average in Timeline

The Dow Jones Industrial Average (DJIA), often called the Dow, is a stock market index tracking 30 major, publicly-owned companies in the United States. It serves as a key indicator of the overall health and performance of the U.S. stock market and the broader economy. While not a comprehensive representation of the entire market, the Dow's movements are widely followed by investors, financial professionals, and the media. It is one of the oldest and most recognized stock market indexes in the world.

1901: Panic of 1901

In 1901, the Dow Jones Industrial Average's (DJIA) momentum halted as it worked its way through the financial crisis known as the Panic of 1901.

1906: Dow Breaks 100 for the First Time

In 1906, the Dow Jones Industrial Average (DJIA) broke 100 for the first time. The San Francisco earthquake in 1906 negatively impacted the economic climate.

1907: General Electric re-added to the DJIA

Between 1898 and 1907, General Electric was dropped and re-added twice to the Dow Jones Industrial Average (DJIA).

1907: Panic of 1907

In 1907, the Dow Jones Industrial Average's (DJIA) momentum halted as it worked its way through the financial crisis known as the Panic of 1907.

1910: Dow Performance at the Beginning of the Decade

At the beginning of 1910, the Dow Jones Industrial Average (DJIA) stood at 99.05.

1911: Panic of 1910–1911

The Panic of 1910-1911 stifled economic growth at the start of the 1910s.

July 30, 1914: New York Stock Exchange Closed

On July 30, 1914, the New York Stock Exchange closed as the Dow Jones Industrial Average (DJIA) stood at 71.42, suspending trading for four and a half months due to concerns over World War I or to conserve U.S. gold stock.

December 12, 1914: Markets Reopen After World War I

On December 12, 1914, when the markets reopened after being closed due to World War I concerns, the Dow Jones Industrial Average (DJIA) closed at 74.56, a gain of 4.4%.

1914: Dow Remains Stuck In a Range Until Late 1914

The Dow Jones Industrial Average (DJIA) remained stuck in a range between 53 and 103 until late 1914.

1919: Dow Performance at the End of the Decade

At the end of 1919, the Dow Jones Industrial Average (DJIA) closed at 107.23, adding only 8.26% from the beginning of the decade.

1920: Long Bull Run

From 1920 to late 1929, the Dow Jones Industrial Average (DJIA) experienced a long bull run, rising from 73 to 381 points.

1921: The Depression of 1920-1921

In 1921, the Depression of 1920-1921 downplayed the influence of the Dow Jones Industrial Average (DJIA).

1928: Dow Expanded to 30 Stocks

In 1928, the components of the Dow Jones Industrial Average (DJIA) were increased to 30 stocks near the economic height of the Roaring Twenties.

September 3, 1929: Dow Reaches Peak

On September 3, 1929, the Dow Jones Industrial Average (DJIA) reached a peak of 381.17.

November 13, 1929: Bottom of 1929 Crash

On November 13, 1929, the bottom of the 1929 crash came with the Dow Jones Industrial Average (DJIA) reaching 195.35 intraday, closing slightly higher at 198.69.

1930: Dow Performance At The Beginning Of The Decade

At the beginning of 1930, the Dow Jones Industrial Average (DJIA) was at 248.48.

July 8, 1932: Dow at Great Depression Low

On July 8, 1932, during the Great Depression, the Dow Jones Industrial Average (DJIA) closed at 41.22, about two-thirds of its mid-1880s starting point.

March 15, 1933: Largest One-Day Percentage Gain

On March 15, 1933, the Dow Jones Industrial Average (DJIA) gained 15.34% to close at 62.10, marking its largest one-day percentage gain during the 1930s bear market.

1935: Second Italo-Abyssinian War

The 1935-1936 Second Italo-Abyssinian War affected the stock market.

1936: Spanish Civil War

The 1936-1939 Spanish Civil War affected the stock market.

1937: Second Sino-Japanese War

The Second Sino-Japanese War of 1937 affected the stock market.

1938: Recession of 1937–1938

The United States experienced the Recession of 1937-1938, which temporarily brought economic recovery to a halt.

1939: Outbreak of World War II

The year 1939 saw the catastrophic outbreak of World War II, contributing to global instability and impacting the stock market.

1949: Recession of 1949

The Recession of 1949 occurred during a time when post-war reconstruction and optimism brought about a surge in the Dow Jones Industrial Average (DJIA).

1954: Inflation-Adjusted High Surpassed

In inflation-adjusted numbers, the high of 381.17 on September 3, 1929, was not surpassed until 1954.

1962: Kennedy Slide of 1962

In 1962, the markets trudged through the Kennedy Slide, but the Dow Jones Industrial Average (DJIA) still managed an 18% gain.

November 4, 1972: NYSE's High Point

The nadir came after prices dropped more than 45% over two years since the NYSE's high point of 1,003.16 on November 4, 1972.

November 14, 1972: Dow Closes Above 1,000

On November 14, 1972, the Dow Jones Industrial Average (DJIA) closed at 1,003.16, surpassing the 1,000 mark for the first time.

January 1973: Beginning of Stock Market Crash

Between January 1973 and December 1974, the Dow Jones Industrial Average (DJIA) lost 48% of its value in what became known as the 1973–1974 stock market crash.

December 6, 1974: Dow at Low Point of Stock Market Crash

On December 6, 1974, the Dow Jones Industrial Average (DJIA) closed at 577.60, marking a low point in the 1973-1974 stock market crash.

December 1974: End of Stock Market Crash

Between January 1973 and December 1974, the Dow Jones Industrial Average (DJIA) lost 48% of its value in what became known as the 1973–1974 stock market crash.

1975: End of the Vietnam War

Although the Vietnam War ended in 1975, new tensions arose towards Iran surrounding the Iranian Revolution in 1979.

1976: Index Reaches 1,000 Several Times

In 1976, the Dow Jones Industrial Average (DJIA) reached 1,000 several times and it closed the year at 1,004.75.

1979: Iranian Revolution

In 1979, new tensions arose towards Iran surrounding the Iranian Revolution.

January 1980: DJIA returned an annualized 8.90%

Between January 1980 and November 2023, the DJIA returned an annualized 8.90%, with the S&P 500 returning a nearly identical 8.91%.

1981: Negative Year

In 1981, the Dow Jones Industrial Average (DJIA) experienced one of its two negative years of the 1980s.

1981: Index Breaks Above 1,000 Several Times

In early 1981, the Dow Jones Industrial Average (DJIA) broke above 1,000 several times, but then retreated.

1984: Negative Year

In 1984, the Dow Jones Industrial Average (DJIA) experienced one of its two negative years of the 1980s.

January 1987: Dow Closes Above 2,000

After closing above 2,000 in January 1987, the largest one-day percentage drop occurred on Black Monday, October 19, 1987, when the average fell 22.61%.

October 19, 1987: Black Monday

On October 19, 1987, known as Black Monday, the Dow Jones Industrial Average (DJIA) experienced its largest one-day percentage drop, falling 22.61%.

1987: Worst quarter since 1987

In the first quarter of 2020, the DJIA fell 23%, its worst quarter since 1987.

October 13, 1989: Friday the 13th Mini-Crash

On October 13, 1989, the Friday the 13th mini-crash, resulting from the collapse of the junk bond market, led to a loss of almost 7% of the Dow Jones Industrial Average (DJIA) in a single day.

1989: Revolutions of 1989

Certain influential foreign conflicts such as the Revolutions of 1989 affected the stock market.

January 1990: Dow at Start of Period

Between January 1990 to July 1997, the Dow Jones Industrial Average (DJIA) soared from 2,753 to 8,000.

1990: 1990 Oil Price Shock

In 1990, the markets contended with the 1990 oil price shock compounded with the effects of the early 1990s recession.

1991: 1991 Soviet coup d'état attempt

In 1991, the markets contended with the 1991 Soviet coup d'état attempt.

1991: Changes to the DJIA since 1991

The text mentions changes to the Dow Jones Industrial Average (DJIA) components since 1991.

1992: Dow Staggers Through 3,000 Level

Between late 1992 and early 1993, the Dow Jones Industrial Average (DJIA) staggered through the 3,000 level making only modest gains.

1993: Dow Staggers Through 3,000 Level

Between late 1992 and early 1993, the Dow Jones Industrial Average (DJIA) staggered through the 3,000 level making only modest gains.

April 1997: Lowest Close Since April 1997

On March 9, 2009, the Dow Jones Industrial Average (DJIA) closed at a new 12-year low of 6,547.05, its lowest close since April 1997.

July 1997: Dow at End of Period

Between January 1990 to July 1997, the Dow Jones Industrial Average (DJIA) soared from 2,753 to 8,000.

October 1997: 1997 Asian Financial Crisis

In October 1997, the events surrounding the 1997 Asian financial crisis plunged the Dow Jones Industrial Average (DJIA) into a 554-point loss.

October 27, 1997: October 27, 1997 Mini-Crash

On October 27, 1997, the Dow Jones Industrial Average (DJIA) plunged into a 554-point loss to close at 7,161.15, a retrenchment of 7.18% in what became known as the October 27, 1997 mini-crash.

1998: 1998 Russian Financial Crisis and LTCM Collapse

In 1998, the Dow Jones Industrial Average (DJIA) continued climbing past 9,000 despite negativity surrounding the 1998 Russian financial crisis and the subsequent collapse of Long-Term Capital Management.

March 29, 1999: Dow Closes Above 10,000

On March 29, 1999, the Dow Jones Industrial Average (DJIA) closed at 10,006.78, marking its first close above 10,000, prompting a celebration on the New York Stock Exchange.

2000: NASDAQ and S&P 500 indices fell

Between 2000 and 2002, the NASDAQ index fell roughly 75% and the S&P 500 index fell roughly 50%.

September 17, 2001: Market Reaction to 9/11 Attacks

On September 17, 2001, the first day of trading after the September 11 attacks, the Dow Jones Industrial Average (DJIA) fell 7.1%.

September 24, 2002: Dow Drops to Four-Year Low

On September 24, 2002, the Dow Jones Industrial Average (DJIA) dropped to a four-year low of 7,286 due to the stock market downturn and lingering effects of the dot-com bubble.

2003: Dow Recovery

In 2003, the Dow Jones Industrial Average (DJIA) held steady within the 7,000 to 9,000-point level and recovered to the 10,000 mark by year end.

October 11, 2007: Dow Reaches Record High

On October 11, 2007, the Dow Jones Industrial Average (DJIA) reached a record high of 14,198.10, a mark not matched until March 2013.

2007: Previous high in 2007

Six years after its previous high in 2007, the Dow finally closed at a new record high on March 5, 2013.

September 15, 2008: Lehman Brothers Bankruptcy

On September 15, 2008, the bankruptcy of Lehman Brothers and high oil prices contributed to a wider financial crisis, causing the Dow Jones Industrial Average (DJIA) to lose more than 500 points.

October 2008: AIG's stock price collapse

During September–October 2008, former component AIG's reverse split-adjusted stock price collapsed from $22.76 on September 8 to $1.35 on October 27; contributing to a roughly 3,000-point drop in the index.

October 2008: 2008 financial crisis

Volatility rose high enough to trigger multiple 15-minute trading halts, a typical symptom of a bear market as previously seen in October 2008 during the 2008 financial crisis.

2008: Financial Crisis

In 2008, the Dow Jones Industrial Average (DJIA) dropped due to the financial crisis.

2008: Great Recession and Financial Crisis

The Great Recession, the United States housing bubble and the 2008 financial crisis were easing in 2009.

March 9, 2009: Dow at 12-Year Low

On March 9, 2009, after months of volatility during the 2008 financial crisis, the Dow Jones Industrial Average (DJIA) closed at a new 12-year low of 6,547.05, its lowest close since April 1997.

2009: Dubai World debt standstill

In 2009, the Dubai World debt standstill contributed to significant volatility for the Dow, despite its rally attempt aided by the Federal Reserve's monetary policy.

2009: Rally Towards 10,000 Level

Towards the latter half of 2009, the Dow Jones Industrial Average (DJIA) rallied towards the 10,000 level amid optimism that the Great Recession, the United States housing bubble and the 2008 financial crisis were easing.

May 6, 2010: 2010 Flash Crash

On May 6, 2010, the Dow experienced the '2010 Flash Crash,' losing 9.2% intra-day and regaining nearly all of it within a single hour, leading to new regulations.

2011: United States debt-ceiling crisis

In 2011, the United States debt-ceiling crisis contributed to significant volatility for the Dow, despite its rally attempt aided by the Federal Reserve's monetary policy.

March 5, 2013: Dow closed at a new record high

On March 5, 2013, the Dow closed at a new record high, six years after its previous high in 2007.

March 2013: Dow Matches Record High

The Dow Jones Industrial Average (DJIA) record high of 14,198.10 on October 11, 2007, was not matched until March 2013.

2015: Stock market selloff in the second half of 2015

In the second half of 2015, the Dow experienced a brief 2015-2016 stock market selloff.

November 9, 2016: Index soared after Donald Trump's victory

On November 9, 2016, the day after Donald Trump's victory over Hillary Clinton in the U.S. presidential election, the Dow index soared, coming within roughly 25 points of its all-time intraday high to that point.

2016: The Dow picked up again in early 2016

In early 2016, the Dow picked up again and climbed past 25,000 points on January 4, 2018, after a selloff in 2015.

January 4, 2018: Dow climbed past 25,000 points

On January 4, 2018, the Dow climbed past 25,000 points after picking up again in early 2016.

2018: General Electric removed from the DJIA

In 2018, General Electric's longest presence on the Dow Jones Industrial Average (DJIA) ended after being part of the original index in 1896, although it was dropped and re-added twice between 1898 and 1907.

2018: Volatility returned in 2018

In 2018, volatility returned and the Dow fell nearly 20%.

January 2019: Index rallied more than 10% from its Christmas Eve low

By early January 2019, the Dow index had quickly rallied more than 10% from its Christmas Eve low.

February 12, 2020: Dow peaked at 29,551.42

On February 12, 2020, the Dow peaked at 29,551.42 (29,568.57 intraday) before retreating due to coronavirus fears and an oil price war.

October 12, 2020: Market recovered in the third quarter

The market recovered in the third quarter, returning to 28,837.52 on October 12, 2020.

November 9, 2020: New all-time high

On November 9, 2020, the Dow peaked momentarily at a new all-time high of 29,675.25 at 14:00 ET, following that day's announcement of the success of the Pfizer–BioNTech COVID-19 vaccine in Phase III clinical trials.

December 31, 2020: Dow closed over 30,000

On December 31, 2020, the Dow closed over 30,000 at a record 30,606.48.

November 2023: S&P 500 returning a nearly identical 8.91%

Between January 1980 and November 2023, the S&P 500 returned a nearly identical 8.91%.

January 22, 2024: Dow Jones crossed 38,000 points for the first time

On January 22, 2024, the Dow Jones crossed 38,000 points for the first time.

November 8, 2024: Changes to DJIA Components

As of November 8, 2024, there have been 59 changes to the components of the Dow Jones Industrial Average (DJIA) since its inception in 1896.

November 8, 2024: Dow Divisor

As of November 8, 2024, the Dow Divisor is 0.16268413125742 and every $1 change in price in a particular stock within the average equates to a 6.146881 point movement.

November 2024: Index Calculation Factor

As of November 2024, the Dow Jones Industrial Average (DJIA) value is calculated by summing the stock prices of included companies and dividing by a factor, which was approximately 0.163. This factor is adjusted during stock splits to maintain the index's value.

March 2025: DJIA Price-Weighted Index

In March 2025, the Dow Jones Industrial Average (DJIA) was noted as a price-weighted index where a stock's price, not company size, determined its importance. Goldman Sachs was the largest component with a ~$167B market capitalization, while Apple, with a ~$3.3T market capitalization, was outside the top 10.

May 29, 2025: DJIA company components

As of May 29, 2025, the Dow Jones Industrial Average (DJIA) consisted of a specific set of companies with designated weightings.

December 2099: Dow's Projected Close

The Dow Jones Industrial Average (DJIA) averaged a 5.3% return compounded annually for the 20th century, and to achieve that return again, the index would need to close at about 2,000,000 by December 2099.