Dow Jones in 1920
The Dow Jones Industrial Average fell 32.9% in 1920, from 107.23 at the end of 1919 to 71.95. Its highest close was 109.88 on Jan 3, and its lowest 66.75 on Dec 21. The biggest one-day fall was −4.2% on May 19 and the biggest rise +4.2% on Nov 22. Adjusted for inflation, it lost 34.6%.
Dow Jones, daily closes 1920
Numbers mark the events belowKey Events in 1920
What happened, and how the Dow Jones moved — on the day (or the next trading day) and about a month later.
- 1
Saturday, January 17Prohibition begins as the Eighteenth Amendment takes effect. SourceDow Jones: +0.5% that day · −9.6% a month later
- 2
Thursday, February 5 From the dataEnters a bear market: 20% below its peak of 119.62 (November 3, 1919).
- 3
Monday, March 1The US Railroad Administration returns the railroads to private control. SourceDow Jones: +1.2% that day · +9.9% a month later
- 4
Wednesday, May 19 From the dataBiggest one-day fall of the year: −4.2%.
- 5
Thursday, September 16A bomb explodes on Wall Street outside the J. P. Morgan building, killing 38. SourceDow Jones: +0.9% that day · −3.9% a month later
- 6
Tuesday, November 2Warren G. Harding wins the US presidential election. SourceDow Jones: −0.6% next trading day (Nov 3) · −11.7% a month later
- 7
Monday, November 22 From the dataBiggest one-day rise of the year: +4.2%.
Biggest days of 1920
| Best days | Worst days | ||
|---|---|---|---|
| Nov 22 | +4.2% | May 19 | −4.2% |
| Dec 23 | +3.9% | Feb 10 | −3.8% |
| May 25 | +3.0% | Apr 21 | −3.6% |
| Mar 8 | +3.0% | Feb 25 | −3.2% |
| Dec 31 | +2.7% | Mar 24 | −3.1% |
Volatility: 19.5% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | 103.82 | −3.2% |
| Feb | 91.31 | −12.0% |
| Mar | 102.81 | +12.6% |
| Apr | 93.54 | −9.0% |
| May | 92.06 | −1.6% |
| Jun | 90.76 | −1.4% |
| Jul | 86.85 | −4.3% |
| Aug | 86.16 | −0.8% |
| Sep | 82.95 | −3.7% |
| Oct | 84.95 | +2.4% |
| Nov | 76.04 | −10.5% |
| Dec | 71.95 | −5.4% |
Dow Jones in 1920: FAQ
How much did the Dow Jones Industrial Average fall in 1920?
The Dow Jones Industrial Average fell 32.9% in 1920, from 107.23 at the end of 1919 to 71.95. Its highest close was 109.88 on Jan 3, and its lowest 66.75 on Dec 21. The biggest one-day fall was −4.2% on May 19 and the biggest rise +4.2% on Nov 22. Adjusted for inflation, it lost 34.6%.
What were the highest and lowest closes of the Dow Jones Industrial Average in 1920?
Highest: 109.88 on January 3, 1920. Lowest: 66.75 on December 21, 1920. It closed higher on 140 of 299 trading days.
What happened to the Dow Jones Industrial Average on March 1, 1920?
The US Railroad Administration returns the railroads to private control. The Dow Jones Industrial Average rose 1.2% that day, and was +9.9% a month later.
Data: Daily closes since 26 May 1896. Saturday sessions were held until 1952. The NYSE was closed from 31 Jul to 11 Dec 1914. 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.
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@misc{corgano2026dowjonesin1920, author = {{Corgano}}, title = {Dow Jones in 1920}, howpublished = {\url{https://goldprice.corgano.com/market-history/dow-jones/1920}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}