S&P 500 in 1994
The S&P 500 fell 1.5% in 1994, from 466.45 at the end of 1993 to 459.27. Its highest close was 482.00 on Feb 2 — a record that stood until February 14, 1995, and its lowest 438.92 on Apr 4. The biggest one-day fall was −2.3% on Feb 4 and the biggest rise +2.1% on Apr 5. Adjusted for inflation, it lost 4.1%.
S&P 500, daily closes 1994
Numbers mark the events belowKey Events in 1994
What happened, and how the S&P 500 moved — on the day (or the next trading day) and about a month later.
- 1
Saturday, January 1North American Free Trade Agreement (NAFTA) enters into force. SourceS&P 500: −0.2% next trading day (Jan 3) · +3.3% a month later
- 2
Monday, January 10 From the dataS&P 500 sets the first of 5 record closing highs this year, at 475.27.
- 3
Wednesday, February 2 From the dataLast record close of the year: 482.00.
- 4
Friday, February 4Fed raises its federal funds target to 3.25%, its first tightening since 1989, starting a bond-market sell-off. SourceS&P 500: −2.3% that day · −2.9% a month later
- 5
Tuesday, April 5 From the dataBiggest one-day rise of the year: +2.1%.
- 6
Tuesday, December 20Mexico devalues the peso, triggering the Mexican peso crisis; the peso is floated two days later. SourceS&P 500: −0.2% that day · +2.0% a month later
Biggest days of 1994
| Best days | Worst days | ||
|---|---|---|---|
| Apr 5 | +2.1% | Feb 4 | −2.3% |
| Oct 28 | +1.7% | Nov 22 | −1.8% |
| Apr 21 | +1.5% | Mar 29 | −1.6% |
| Oct 11 | +1.5% | Sep 20 | −1.6% |
| Sep 15 | +1.3% | Oct 4 | −1.5% |
Volatility: 9.8% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | 481.61 | +3.3% |
| Feb | 467.14 | −3.0% |
| Mar | 445.77 | −4.6% |
| Apr | 450.91 | +1.2% |
| May | 456.50 | +1.2% |
| Jun | 444.27 | −2.7% |
| Jul | 458.26 | +3.1% |
| Aug | 475.49 | +3.8% |
| Sep | 462.71 | −2.7% |
| Oct | 472.35 | +2.1% |
| Nov | 453.69 | −4.0% |
| Dec | 459.27 | +1.2% |
Other Markets in 1994
Change over the calendar year.
| Market | Change | Year-end |
|---|---|---|
| S&P 500 | −1.5% | 459.27 |
| Dow Jones Industrial Average in 1994 | +2.1% | 3,834.44 |
| Nasdaq Composite in 1994 | −3.2% | 751.96 |
| Russell 2000 in 1994 | −3.2% | 250.36 |
| Nikkei 225 in 1994 | +13.2% | 19,723.00 |
| Gold in 1994 | −2.2% | $383.25 |
| Silver in 1994 | −5.2% | $4.85 |
| WTI crude oil in 1994 | +25.2% | $17.77 |
| Brent crude oil in 1994 | +23.1% | $16.23 |
| US 10-year Treasury yield in 1994 | +2.01 pp | 7.84% |
S&P 500 in 1994: FAQ
How much did the S&P 500 fall in 1994?
The S&P 500 fell 1.5% in 1994, from 466.45 at the end of 1993 to 459.27. Its highest close was 482.00 on Feb 2 — a record that stood until February 14, 1995, and its lowest 438.92 on Apr 4. The biggest one-day fall was −2.3% on Feb 4 and the biggest rise +2.1% on Apr 5. Adjusted for inflation, it lost 4.1%.
What were the highest and lowest closes of the S&P 500 in 1994?
Highest: 482.00 on February 2, 1994. Lowest: 438.92 on April 4, 1994. It closed higher on 133 of 252 trading days.
What happened to the S&P 500 on February 4, 1994?
Fed raises its federal funds target to 3.25%, its first tightening since 1989, starting a bond-market sell-off. The S&P 500 fell 2.3% that day, and was −2.9% a month later.
Did the S&P 500 reach a record high in 1994?
Yes — 5 record closing highs, the last at 482.00 on February 2, 1994.
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{corgano2026sp500in1994, author = {{Corgano}}, title = {S&P 500 in 1994}, howpublished = {\url{https://goldprice.corgano.com/market-history/sp-500/1994}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}