S&P 500 in 1989
The S&P 500 rose 27.3% in 1989, from 277.72 at the end of 1988 to 353.40. Its highest close was 359.80 on Oct 9 — a record that stood until May 29, 1990, and its lowest 275.31 on Jan 3. The biggest one-day fall was −6.1% on Oct 13 and the biggest rise +2.8% on Oct 16. Adjusted for inflation, it gained 21.6%.
S&P 500, daily closes 1989
Numbers mark the events belowKey Events in 1989
What happened, and how the S&P 500 moved — on the day (or the next trading day) and about a month later.
- 1
Wednesday, July 26 From the dataS&P 500 sets the first of 13 record closing highs this year, at 338.05. Back above its pre-bear-market peak of 336.77 (August 25, 1987).
- 2
Wednesday, August 9Bush signs FIRREA, creating the Resolution Trust Corporation to dispose of failed thrifts. SourceS&P 500: −0.7% that day · −0.3% a month later
- 3
Monday, October 9 From the dataLast record close of the year: 359.80.
- 4
Friday, October 13Friday the 13th mini-crash: Dow falls 190.58 points (6.91%). SourceS&P 500: −6.1% that day · −4.6% a month later
- 5
Monday, October 16 From the dataBiggest one-day rise of the year: +2.8%.
- 6
Thursday, November 9East Germany opens the Berlin Wall. SourceS&P 500: −0.5% that day · +3.1% a month later
Biggest days of 1989
| Best days | Worst days | ||
|---|---|---|---|
| Oct 16 | +2.8% | Oct 13 | −6.1% |
| May 12 | +2.2% | Mar 17 | −2.3% |
| Aug 24 | +2.0% | Jun 29 | −1.9% |
| Jun 23 | +1.8% | Dec 18 | −1.8% |
| Apr 14 | +1.7% | Feb 22 | −1.7% |
Volatility: 13.1% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | 297.47 | +7.1% |
| Feb | 288.86 | −2.9% |
| Mar | 294.87 | +2.1% |
| Apr | 309.64 | +5.0% |
| May | 320.52 | +3.5% |
| Jun | 317.98 | −0.8% |
| Jul | 346.08 | +8.8% |
| Aug | 351.45 | +1.6% |
| Sep | 349.15 | −0.7% |
| Oct | 340.36 | −2.5% |
| Nov | 345.99 | +1.7% |
| Dec | 353.40 | +2.1% |
Other Markets in 1989
Change over the calendar year.
| Market | Change | Year-end |
|---|---|---|
| S&P 500 | +27.3% | 353.40 |
| Dow Jones Industrial Average in 1989 | +27.0% | 2,753.20 |
| Nasdaq Composite in 1989 | +19.2% | 454.80 |
| Russell 2000 in 1989 | +14.2% | 168.31 |
| Nikkei 225 in 1989 | +29.0% | 38,916.00 |
| Gold in 1989 | −2.8% | $398.60 |
| Silver in 1989 | −13.8% | $5.22 |
| WTI crude oil in 1989 | +27.6% | $21.84 |
| Brent crude oil in 1989 | +29.7% | $21.05 |
| US 10-year Treasury yield in 1989 | −1.21 pp | 7.93% |
S&P 500 in 1989: FAQ
How much did the S&P 500 rise in 1989?
The S&P 500 rose 27.3% in 1989, from 277.72 at the end of 1988 to 353.40. Its highest close was 359.80 on Oct 9 — a record that stood until May 29, 1990, and its lowest 275.31 on Jan 3. The biggest one-day fall was −6.1% on Oct 13 and the biggest rise +2.8% on Oct 16. Adjusted for inflation, it gained 21.6%.
What were the highest and lowest closes of the S&P 500 in 1989?
Highest: 359.80 on October 9, 1989. Lowest: 275.31 on January 3, 1989. It closed higher on 150 of 252 trading days.
What happened to the S&P 500 on October 13, 1989?
Friday the 13th mini-crash: Dow falls 190.58 points (6.91%). The S&P 500 fell 6.1% that day, and was −4.6% a month later.
Did the S&P 500 reach a record high in 1989?
Yes — 13 record closing highs, the last at 359.80 on October 9, 1989.
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
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026sp500in1989, author = {{Corgano}}, title = {S&P 500 in 1989}, howpublished = {\url{https://goldprice.corgano.com/market-history/sp-500/1989}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}