History of Dow Jones Industrial Average in Timeline

The Dow Jones Industrial Average (DJIA), often called "the Dow," is a stock market index representing 30 major publicly traded companies in the United States. It serves as a benchmark to gauge the overall performance of the U.S. stock market. Changes in the DJIA are frequently reported and analyzed as indicators of economic health and investor sentiment. However, it's worth noting that some consider it a limited representation of the entire market due to its relatively small sample size compared to broader indices such as the S&P 500.

1901: Panic of 1901

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

1906: Dow breaks 100 after San Francisco earthquake

In 1906, the Dow Jones Industrial Average broke 100 for the first time. The negativity surrounding the San Francisco earthquake did little to improve the economic climate.

1907: Panic of 1907

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

1910: Panic of 1910 stifled economic growth

At the start of the 1910s, the Panic of 1910 stifled economic growth.

1911: Panic of 1911 stifled economic growth

At the start of the 1910s, the Panic of 1911 stifled economic growth.

July 30, 1914: New York Stock Exchange Closed

On July 30, 1914, with the Dow Jones Industrial Average at 71.42, the New York Stock Exchange closed and suspended trading for four and a half months, possibly due to concerns about market panic over World War I. United States Secretary of the Treasury, William Gibbs McAdoo, closed the exchange to conserve the U.S. gold stock in order to launch the Federal Reserve System later that year.

December 12, 1914: Markets reopen after NYSE closure

On December 12, 1914, when the markets reopened, the Dow Jones Industrial Average closed at 74.56, a gain of 4.4%.

1914: Dow remains stuck in a range until 1914

Until late 1914, the Dow Jones Industrial Average remained stuck in a range between 53 and 103.

1919: Dow performance after World War I

Following World War I, the United States experienced another economic downturn, the Post–World War I recession. The Dow's performance remained unchanged from the closing value of the previous decade, adding only 8.26%, from 99.05 at the beginning of 1910, to a level of 107.23 at the end of 1919.

1920: Bull Run from 1920

From 1920, the Dow Jones Industrial Average experienced a long bull run that lasted until late 1929.

1921: Depression of 1920

In 1921, the Dow Jones Industrial Average downplayed the influence of the Depression of 1920–1921.

1928: Components of the Dow increased to 30 stocks in 1928

In 1928, the components of the Dow Jones Industrial Average were increased to 30 stocks near the economic height of that decade, which was nicknamed the Roaring Twenties.

September 3, 1929: Dow peaks before 1929 crash

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

November 13, 1929: Bottom of the 1929 crash

On November 13, 1929, the bottom of the 1929 crash came at 195.35 intraday, closing slightly higher at 198.69.

1930: Dow Jones Average down from 1930

For the decade, the Dow Jones average was down from 248.48 at the beginning of 1930, to a stable level of 150.24 at the end of 1939, a loss of about 40%.

July 8, 1932: Dow closes at its lowest during the Great Depression

On July 8, 1932, the Dow Jones Industrial Average closed at 41.22, about two-thirds of its mid-1880s starting point and nearly 90% below its peak, during the Wall Street Crash of 1929 and the ensuing Great Depression.

March 15, 1933: Largest one-day percentage gain in the Dow

On March 15, 1933, the Dow Jones Industrial Average experienced its largest one-day percentage gain, increasing by 15.34% to close at 62.10, during the depths of the 1930s bear market.

1935: The Second Italo-Abyssinian War of 1935

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

1936: The Spanish Civil War 1936

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

1937: The Second Sino-Japanese War of 1937

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

1938: Recession of 1937

In 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 in 1939

Marked by global instability and the Great Depression, the 1930s contended with the outbreak of World War II in 1939.

1949: Recession of 1949

In 1949, the strength in the Dow Jones Industrial Average occurred despite the Recession of 1949 and various global conflicts.

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 Dow Jones Industrial Average began to stall during the 1960s as the markets trudged through the Kennedy Slide of 1962.

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 for the first time

On November 14, 1972, the Dow Jones Industrial Average closed at 1,003.16, above the 1,000 mark for the first time, during a brief relief rally in the midst of a lengthy bear market.

January 1973: 1973-1974 stock market crash

Between January 1973 and December 1974, the average lost 48% of its value in what became known as the 1973–1974 stock market crash.

December 6, 1974: Dow closes at 577.60 during the 1973-1974 stock market crash

On December 6, 1974, the Dow Jones Industrial Average closed at 577.60. Between January 1973 and December 1974, the average lost 48% of its value in what became known as the 1973–1974 stock market crash.

December 1974: 1973-1974 stock market crash

Between January 1973 and December 1974, the average lost 48% of its value in what became known as the 1973–1974 stock market crash.

1975: Vietnam War ended in 1975

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

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

1979: Iranian Revolution in 1979

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

January 1980: DJIA Annualized Return

From January 1980 to November 2023, the DJIA returned an annualized 8.90%.

1981: Early 1980s recession

During the 1980s, the Dow Jones Industrial Average increased 228%. The index had only two negative years in the 1980s: in 1981 and 1984.

1981: Index breaks above 1,000 several times in early 1981

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

1984: Negative year in 1984

During the 1980s, the Dow Jones Industrial Average increased 228%. The index had only two negative years in the 1980s: in 1981 and 1984.

January 1987: Index breaks above 2,000 in January 1987

In January 1987, the Dow Jones Industrial Average broke above 2,000.

October 19, 1987: Black Monday

On October 19, 1987, also known as Black Monday, the Dow Jones Industrial Average 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%, marking its worst quarter since 1987.

October 13, 1989: Friday the 13th mini-crash

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

1989: Revolutions of 1989

In 1989, the markets contended with the Revolutions of 1989.

January 1990: Dow from January 1990 to July 1997

From January 1990 to July 1997, the Dow Jones Industrial Average 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 which took place as part of the initial stages of the Dissolution of the Soviet Union and the Revolutions of 1989.

1992: Dow staggers through 3,000 level between late 1992 and early 1993

Between late 1992 and early 1993, the Dow staggered through the 3,000 level making only modest gains as the biotechnology sector suffered through the downfall of the Biotech Bubble.

1993: Dow staggers through 3,000 level between late 1992 and early 1993

Between late 1992 and early 1993, the Dow staggered through the 3,000 level making only modest gains as the biotechnology sector suffered through the downfall of the Biotech Bubble.

April 1997: Lowest Close Since April 1997

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

July 1997: Dow from January 1990 to July 1997

From January 1990 to July 1997, the Dow Jones Industrial Average 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 into a 554-point loss to a close of 7,161.15; a retrenchment of 7.18% in what became known as the October 27, 1997 mini-crash.

October 27, 1997: October 27, 1997 mini-crash

On October 27, 1997, the Dow Jones Industrial Average plunged into a 554-point loss to a close of 7,161.15 during the 1997 Asian financial crisis; a retrenchment of 7.18% in what became known as the October 27, 1997 mini-crash.

1998: 1998 Russian financial crisis

In 1998, the Dow Jones Industrial Average continued climbing past 9,000 despite negativity surrounding the 1998 Russian financial crisis along with the subsequent fallout from the 1998 collapse of Long-Term Capital Management due to bad bets placed on the movement of the Russian ruble.

March 29, 1999: Dow Closes Above 10,000

On March 29, 1999, the Dow Jones Industrial Average closed at 10,006.78, marking its first close above 10,000, which prompted a celebration on the New York Stock Exchange trading floor.

2000: Dow's Performance Compared to NASDAQ and S&P 500

Between 2000 and 2002, the Dow Jones Industrial Average fell 27%, while the NASDAQ index fell roughly 75% and the S&P 500 index fell roughly 50%.

September 17, 2001: Market Reaction to September 11 Attacks

On September 17, 2001, the first day of trading after the September 11 attacks on the United States, the Dow Jones Industrial Average fell 7.1%.

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

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

2003: Dow Recovers to 10,000 by Year End

In 2003, the Dow Jones Industrial Average 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 reached a record high of 14,198.10, a mark which was not matched until March 2013.

2007: Previous High in 2007

The Dow reached a previous high point in 2007 before a period of fluctuation.

September 15, 2008: Wider Financial Crisis

On September 15, 2008, a wider financial crisis became evident after the Bankruptcy of Lehman Brothers along with the economic effect of record high oil prices. The Dow Jones Industrial Average lost more than 500 points for the day, returning to its mid-July lows below 11,000.

October 2008: AIG's Stock Price Collapse

During September–October 2008, AIG's reverse split-adjusted stock price collapsed, contributing to a roughly 3,000-point drop in the Dow Jones Industrial Average.

October 2008: Bear Market Symptom

In October 2008, during the 2008 financial crisis, bear market symptoms were observed, similar to events that would unfold in early 2020.

2008: Drop in 2008 due to financial crisis

The Dow Jones Industrial Average dropped over the next year due to the 2008 financial crisis.

2008: Easing of Great Recession and Financial Crisis

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

March 9, 2009: Dow Closes at 12-Year Low

On March 9, 2009, the Dow Jones Industrial Average closed at a new 12-year low of 6,547.05, its lowest close since April 1997. The Dow had lost 20% of its value in only six weeks.

2009: Dubai World debt standstill

In 2009, the Dow experienced significant volatility due to growing global concerns, including the Dubai World debt standstill.

2009: Rally Towards 10,000 Amid Optimism

May 6, 2010: 2010 Flash Crash

On May 6, 2010, the Dow experienced a "Flash Crash," losing 9.2% intra-day before regaining almost all of it within an hour, leading to new regulations.

2011: United States debt-ceiling crisis

In 2011, the Dow experienced significant volatility due to growing global concerns, including the United States debt-ceiling crisis.

March 5, 2013: Dow Closes at New Record High

On March 5, 2013, the Dow Jones Industrial Average 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 matched its record high from October 11, 2007 in March 2013.

2015: 2015–2016 Stock Market Selloff

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

November 9, 2016: Post-Election Soar

On November 9, 2016, the day after Donald Trump's victory in the U.S. presidential election, the Dow Jones Industrial Average soared, coming close to its all-time intraday high.

2016: Market Recovery in Early 2016

In early 2016, the Dow Jones Industrial Average picked up again and climbed.

January 4, 2018: Dow Climbs Past 25,000 Points

On January 4, 2018, the Dow Jones Industrial Average climbed past 25,000 points.

2018: Dow Falls Nearly 20%

In 2018, the Dow Jones Industrial Average experienced volatility, falling nearly 20%.

January 2019: Index Rallies From Christmas Eve Low

By early January 2019, the Dow Jones Industrial Average had rallied more than 10% from its Christmas Eve low.

February 12, 2020: Dow Peaks Before Pandemic

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

October 12, 2020: Market Recovery in Third Quarter

On October 12, 2020, the market recovered in the third quarter, with the Dow Jones Industrial Average returning to 28,837.52.

November 9, 2020: New All-Time High After Vaccine Announcement

On November 9, 2020, following the announcement of the Pfizer–BioNTech COVID-19 vaccine success, the Dow peaked at a new all-time high of 29,675.25 at 14:00 ET.

December 31, 2020: Dow Closes at Record High

On December 31, 2020, the Dow Jones Industrial Average closed at a record 30,606.48.

June 2021: Highest and Lowest Priced Stocks

As of June 2021, Goldman Sachs and UnitedHealth Group were among the highest-priced stocks, while Cisco Systems and Coca-Cola were among the lowest-priced stocks in the Dow Jones Industrial Average.

November 2023: DJIA Annualized Return

From January 1980 to November 2023, the DJIA returned an annualized 8.90%.

January 22, 2024: Dow Crosses 38,000 Points

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

November 8, 2024: Components of the DJIA changes

As of November 8, 2024, the components of the DJIA have changed 59 times since its beginning on May 26, 1896. General Electric had the longest presence on the index, beginning in the original index in 1896 and ending in 2018, but was dropped and re-added twice between 1898 and 1907.

March 2025: Goldman Sachs largest component of the index

As of March 2025, Goldman Sachs represented the largest component of the Dow Jones Industrial Average with a market capitalization of approximately $167 billion, while Apple's market capitalization was approximately $3.3 trillion, but it fell outside the top 10 components in the index.

October 30, 2025: Dow Divisor Update

Since October 30, 2025, the Dow Divisor is 0.16242563904928, equating to a 6.156663 point movement for every $1 change in price of a stock within the average.

November 2025: Index Calculation

As of November 2025, the value of the Dow Jones Industrial Average index can be calculated by dividing the sum of the stock prices of the included companies by a factor of approximately 0.162. This factor is adjusted whenever a company undergoes a stock split to maintain the index's value.

February 6, 2026: Index Crosses 50,000

On February 6, 2026, the Dow Jones Industrial Average crossed 50,000 for the first time.

March 25, 2026: Dow Jones Industrial Average constituents as of March 25, 2026

As of March 25, 2026, the Dow Jones Industrial Average consists of a specific set of companies with particular weighting.

December 2099: Dow's Future Prediction

Warren Buffett calculated that to achieve the Dow Jones Industrial Average's historical average return of 5.3% compounded annually again, the index would need to close at about 2,000,000 by December 2099.