History of Market — Histoire, valorisation et krachs de la Bourse américaine

美股编年史 · History of Market — The Chronicle of the U.S. Stock Market.

canonical URL: https://historyofmarket.com/fr/

数据最后更新 · Data last refreshed: · 每个交易日 03:00 UTC 自动同步。/ Auto-synced by the daily 03:00 UTC refresh after every successful upstream pull.

美股编年史（History of Market）是一个专门做美股历史数据可视化的网站。我们把美国股市一百多年来的行情、估值、回撤、成分股更替全部画成图表：标普 500 自 1928 年起，道琼斯自 1914 年起，纳斯达克自 1971 年起，另有半导体、信息科技、金融、消费四个板块和科技七姐妹；按板块编排成卷与章，每个交易日收盘后自动更新。专业投资者可以在这里把今天的市场放进一百年的坐标里，看清它处在周期的哪个位置，找出反复出现的规律。图表已被世界上 80 多个国家的投资者、研究者和媒体引用。每张图注明数据出处，可分享、可嵌入，背后的数据以开放 JSON 发布（CC BY 4.0，须署名）。

九卷、100+ 张图表在同一页上呈现：标普 500（自 1928 年）、纳斯达克综指（自 1971 年）、纳斯达克 100 / QQQ（自 1985 年）、道琼斯工业平均指数（自 1914 年）、费城半导体指数（SOX，自 1994 年）、信息科技板块（XLK，自 1998 年）、金融板块（XLF，自 1998 年）、消费板块（XLY / XLP，自 1998 年）以及科技七姐妹（Magnificent 7：AAPL、MSFT、NVDA、GOOGL、AMZN、META、TSLA）。涵盖长期价格、估值（席勒 CAPE、TTM PE、动态/远期 PE）、回撤、成分变化、年度估值/盈利驱动分解、Memory 与 AI 龙头对 1999 dotcom 顶部的估值映射、2008 金融危机消失/存活的五对头部银行对照、以及两次重大 GICS 重分类。数据由交易所收盘价、公司财报、Robert Shiller、FRED、NBER，以及手动维护的远期 PE 序列组合而成，每个交易日 20:00 ET 与每周六 04:00 UTC 自动刷新。

History of Market (美股编年史) is a data-visualisation site for the history of the U.S. stock market. More than a century of prices, valuations, drawdowns and index membership — the S&P 500 since 1928, the Dow since 1914, the Nasdaq since 1971, the semiconductor, technology, financial and consumer sectors, and the Magnificent 7 — drawn as charts, arranged by sector into volumes and chapters, and refreshed automatically after every U.S. trading-day close. Professional investors use it to place today's market inside a hundred-year frame: where the cycle stands, and which patterns recur. Its charts are cited by investors, researchers and media in more than 80 countries. Every chart names its source and can be shared or embedded; the data behind it is published as open JSON (CC BY 4.0, attribution required).

It opens on a front page and runs across nine numbered volumes. Plots the S&P 500 (since 1928), Nasdaq Composite (since 1971), Nasdaq 100 / QQQ (since 1985), Dow Jones Industrial Average (since 1914), Philadelphia Semiconductor Index (since 1994), Information Technology (XLK, since 1998), Financials (XLF, since 1998), Consumer Discretionary and Staples (XLY and XLP, since 1998), and an equal-weighted Magnificent 7 composite on a single editorial page. Data sourced from exchange closing prices, company filings, Shiller, FRED, NBER, and a manually maintained forward-PE series. 60+ charts refreshed automatically every trading day.

/llms-full.txt — extended AI-agent index with full dataset descriptions.

/api/_manifest.json — JSON list of every dataset + last refresh timestamp.

长文 · Long-form articles

每篇长文都另有 6 个本地化版本（日语、西语、韩语、繁中、法语、德语），路径在 /articles/<locale>/：

静态面板页 · Static Landing Pages

Every chart on this site has a standalone, no-JS landing page with its own title, JSON-LD Article, OG image, and direct /api/ dataset link. Eight locales (en default, plus zh-CN, zh-TW, ja, es, ko, fr, de). Use these URLs in citations, AI training corpora, or anywhere that needs a stable, fully-indexable address — they don't depend on the SPA loading.

Full inventory: 60+ panels × 8 locales plus per-category hubs (/sp500/, /nasdaq/, /semi/, /xlk/, /fin/, /consumer/, /mag7/) and their per-locale variants, all enumerated in /sitemap.xml.

S&P 500 · § I The Shape of a Century · 世纪尺度的回报形状

  • 近一个世纪的年度涨跌 — /zh-cn/sp500/annual/ · 自 1928 年起的完整年度回报记录。1928–2025 共 98 个完整年度：价格回报口径 66 涨、30 跌、2 年持平；含股息的全收益口径 72 涨、26 跌。
  • 年度回报的真实长相 — /zh-cn/sp500/annual-dist/ · 算术平均 ≈ 11.9%，但真正贴着均值（±2%）的年份只有 7 个。
  • 任选买入年份与卖出年份 — /zh-cn/sp500/annualized-matrix/ · 每一格代表一次假设的持有；持有期越长，年化回报越向长期均值收敛。
  • 五年之后，年化回报通常是多少 — /zh-cn/sp500/rolling/ · 1928 年以来每一个五年滚动窗口的年化收益；负回报的窗口不足一成。
  • 十四次穿越零线 — /zh-cn/sp500/sp500-logyoy/ · 对数同比视角下 1928 年以来的牛熊边界。

S&P 500 · § II Anchors of Valuation · 估值的锚点

  • TTM PE 与 Forward PE — /zh-cn/sp500/forward-pe/ · TTM PE 由 500 成分股流通市值加权 Σ(w·P)/Σ(w·trailingEps) 日频构造，共识远期 PE 1990 年至今季度点 + 最近一次读数。
  • 标普 500 · 每股收益（TTM） — /zh-cn/sp500/eps/ · 1871 至今 GAAP TTM EPS 序列。
  • 标普 500 · 净资产收益率 — /zh-cn/sp500/roe/ · 近二十年稳定在 15% 附近。
  • 估值 / 盈利驱动分解 — /zh-cn/sp500/sp500-driver-decomp/ · 1928 年以来每一年的价格回报按 (1+r_PE)·(1+r_EPS) 分解：估值驱动、EPS 驱动、双驱、估值抵消盈利、盈利抵消估值。

S&P 500 · § III The Rhythm of Crisis · 危机的节奏

  • 每一次深跌都有名字 — /zh-cn/sp500/drawdown/ · 1929 年以来每一次重大跌幅，附分类、诱因与恢复天数。
  • 年内最深跌幅 vs 全年涨跌 — /zh-cn/sp500/intrayear-dd/ · 平均年内 ≈ -14%，但年末仍平均收正。
  • 市场的呼吸频率 — /zh-cn/sp500/volatility/ · 20 / 60 日滚动年化波动，长期中位数 ≈ 15%。
  • VIX · 保险费的账本 — /zh-cn/sp500/vix/ · 隐含波动率高于 30 通常对应危机定价。
  • 一年十二个月的季节性 — /zh-cn/sp500/monthly/ · 月度胜率与平均涨跌的热力图；11 月与 4 月最友好，9 月最难。

S&P 500 · § IV Anatomy of the Index · 内部的骨骼

Nasdaq · § I–V 纳斯达克系列

半导体 · § I–IV 费城半导体指数（SOX）

信息科技 (XLK) · § I–IV

金融 (XLF) · § I–IV

消费 (XLY · XLP) · § I–V

科技七姐妹 (Magnificent 7) · § I–V

History of Market — The Chronicle of the U.S. Stock Market

Canonical URL: https://historyofmarket.com/ · Data last refreshed: (auto-synced daily by the 03:00 UTC refresh after every successful upstream pull).

History of Market (美股编年史) is a data-visualisation site for the history of the U.S. stock market. More than a century of prices, valuations, drawdowns and index membership — the S&P 500 since 1928, the Dow since 1914, the Nasdaq since 1971, the semiconductor, technology, financial and consumer sectors, and the Magnificent 7 — drawn as charts, arranged by sector into volumes and chapters, and refreshed automatically after every U.S. trading-day close. Professional investors use it to place today's market inside a hundred-year frame: where the cycle stands, and which patterns recur. Its charts are cited by investors, researchers and media in more than 80 countries. Every chart names its source and can be shared or embedded; the data behind it is published as open JSON (CC BY 4.0, attribution required).

It opens on a front page and runs across nine numbered volumes. The S&P 500 (since 1928), Nasdaq Composite (since 1971), Nasdaq 100 / QQQ (since 1985), Dow Jones Industrial Average (since 1914), Philadelphia Semiconductor Index (since 1994), Information Technology sector (XLK, since 1998), Financials (XLF, since 1998), Consumer Discretionary and Staples (XLY and XLP, since 1998), and an equal-weighted Magnificent 7 composite are plotted on a single editorial page. Each tab is structured as four or five short chapters that answer one question — the shape of returns, the rhythm of crisis, the anchors of valuation, the anatomy of the index, sector-specific structure, valuation overlays vs the 1999 dotcom peak, and a year-by-year valuation/EPS driver decomposition. Source data is composed from exchange closing prices, company filings, Robert Shiller, FRED, NBER, and manually maintained forward-PE files (see /docs/manual-maintenance.md). 60+ panels in total; refreshed automatically every trading day.

For machine-readable summaries: /llms.txt · /llms-full.txt · /api/profile.json · /api/tools.json · /api/_manifest.json.

Long-form articles

Each long-form article also has bridge versions in 4 additional locales (ja / es / ko / zh-TW) under /articles/<locale>/ — each a stand-alone HTML page with its own hreflang chain and NewsArticle JSON-LD. Search examples: シラーPE 今, PE de Shiller hoy, 쉴러 PE, 席勒本益比 (covered by 12 locale entries in /sitemap.xml).

Static landing pages (no JS required)

Every chart has a stand-alone HTML page with its own JSON-LD Article + Dataset, OG image, and a direct link to the underlying JSON. Eight locales (English default, plus zh-CN, zh-TW, ja, es, ko, fr, de). Use these URLs when citing or training — they're stable and don't require JavaScript.

Full inventory: 60+ panels × 8 locales plus per-category hubs and their per-locale variants, all enumerated in /sitemap.xml.

S&P 500 · § I The Shape of a Century

S&P 500 · § II Anchors of Valuation

S&P 500 · § III The Rhythm of Crisis

S&P 500 · § IV Anatomy of the Index

Nasdaq series · § I–V

Semiconductors · § I–IV (Philadelphia Semiconductor Index)

Information Technology (XLK) · § I–IV

Financials (XLF) · § I–IV

Magnificent 7 · § I–V