S&P 500 in 1973

The S&P 500 fell 17.4% in 1973, from 118.05 at the end of 1972 to 97.55. Its highest close was 120.24 on Jan 11 — a record that stood until July 17, 1980, and its lowest 92.16 on Dec 5. The biggest one-day fall was −3.1% on Nov 19 and the biggest rise +3.1% on Dec 26. Adjusted for inflation, it lost 24.0%.

Change in 1973

−17.4%

118.05 → 97.55

High

120.24

Jan 11

Low

92.16

Dec 5

After inflation

−24.0%

US CPI

Up days

113 of 252

longest run 9 up, 7 down

Record highs

closing records

S&P 500, daily closes 1973

Numbers mark the events below

Key Events in 1973

What happened, and how the S&P 500 moved — on the day (or the next trading day) and about a month later.

1
Wednesday, January 3 From the data

S&P 500 sets the first of 3 record closing highs this year, at 119.57.
2
Thursday, January 11

Dow peaks, beginning the 1973-74 bear market. Source

S&P 500: +0.7% that day · −4.0% a month later
3
Thursday, April 26

The Chicago Board Options Exchange begins trading. Source

S&P 500: +0.5% that day · −1.1% a month later
4
Saturday, October 6

Egypt and Syria attack Israel, starting the Yom Kippur War. Source

S&P 500: +0.3% next trading day (Oct 8) · −3.9% a month later
5
Wednesday, October 17

Arab oil producers announce production cuts, beginning the 1973 oil embargo. Source

S&P 500: −0.2% that day · −7.0% a month later
6
Monday, November 19 From the data

Biggest one-day fall of the year: −3.1%.
7
Tuesday, November 27 From the data

Enters a bear market: 20% below its peak of 120.24 (January 11, 1973).
8
Wednesday, December 26 From the data

Biggest one-day rise of the year: +3.1%.

Biggest days of 1973

Best days		Worst days
Dec 26	+3.1%	Nov 19	−3.1%
May 24	+2.9%	Nov 26	−2.9%
Dec 6	+2.5%	Dec 12	−2.6%
Dec 7	+2.2%	Dec 3	−2.1%
Jul 11	+2.2%	May 14	−2.1%

Volatility: 15.8% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	116.03	−1.7%	120.24	115.83
Feb	111.68	−3.7%	116.78	110.90
Mar	111.52	−0.1%	114.98	108.84
Apr	106.97	−4.1%	112.68	106.97
May	104.95	−1.9%	111.25	102.73
Jun	104.26	−0.7%	108.29	102.25
Jul	108.22	+3.8%	109.85	101.28
Aug	104.25	−3.7%	106.83	100.53
Sep	108.43	+4.0%	109.08	103.06
Oct	108.29	−0.1%	111.44	108.21
Nov	95.96	−11.4%	107.69	95.70
Dec	97.55	+1.7%	97.95	92.16

Other Markets in 1973

Change over the calendar year.

Market	Change	Year-end
S&P 500	−17.4%	97.55
Dow Jones Industrial Average in 1973	−16.6%	850.86
Nasdaq Composite in 1973	−31.1%	92.19
Gold in 1973	+73.0%	$112.25
Silver in 1973	+60.3%	$3.26
US 10-year Treasury yield in 1973	+0.49 pp	6.90%

1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

S&P 500 in 1973: FAQ

How much did the S&P 500 fall in 1973?

What were the highest and lowest closes of the S&P 500 in 1973?

Highest: 120.24 on January 11, 1973. Lowest: 92.16 on December 5, 1973. It closed higher on 113 of 252 trading days.

What happened to the S&P 500 on January 11, 1973?

Dow peaks, beginning the 1973-74 bear market. The S&P 500 rose 0.7% that day, and was −4.0% a month later.

Did the S&P 500 reach a record high in 1973?

Yes — 3 record closing highs, the last at 120.24 on January 11, 1973.

Data: Daily closes since 1950 (price index, excluding dividends). 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.

Cite this page

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APA 7

Corgano. (2026, October 31). S&P 500 in 1973. Corgano Gold Price. Retrieved October 31, 2026, from https://goldprice.corgano.com/market-history/sp-500/1973

MLA 9

“S&P 500 in 1973.” Corgano Gold Price, goldprice.corgano.com/market-history/sp-500/1973. Accessed 31 Oct. 2026.

Chicago

Corgano. “S&P 500 in 1973.” Corgano Gold Price. Accessed October 31, 2026. https://goldprice.corgano.com/market-history/sp-500/1973.

BibTeX

@misc{corgano2026sp500in1973, author = {{Corgano}}, title = {S&P 500 in 1973}, howpublished = {\url{https://goldprice.corgano.com/market-history/sp-500/1973}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}

Link

S&P 500 in 1973 — Corgano Gold Price: https://goldprice.corgano.com/market-history/sp-500/1973