# History of Market — U.S. Stock Market History, Valuation & Drawdowns

Source: https://historyofmarket.com/en/
Language: en
License: data CC BY 4.0, text © History of Market — cite "History of Market (historyofmarket.com)" and link the source page. Terms: https://historyofmarket.com/license/

History of Market charts a century of U.S. equities: S&P 500 since 1928, Dow since 1914, Nasdaq since 1971 — prices, valuations, drawdowns, updated daily. Cited by investors, researchers and media in 80+ countries.

https://historyofmarket.com/en/

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

**Canonical URL**: https://historyofmarket.com/en/ · **Data last refreshed**: 2026-11-13 (daily datasets update after each U.S. trading-day close, normally before the next session opens; weekly datasets update each weekend; per-file timestamps in /api/_manifest.json).

History of Market 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 volume is a handful of short chapters, each answering 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 licensed terminal consensus data for forward P/E. More than a hundred charts in all.

For machine-readable summaries: https://historyofmarket.com/llms.txt · https://historyofmarket.com/llms-full.txt · https://historyofmarket.com/api/profile.json · https://historyofmarket.com/api/tools.json · https://historyofmarket.com/api/_manifest.json · https://historyofmarket.com/api/_latest.json (current readings) · https://historyofmarket.com/feed.xml · https://historyofmarket.com/data-feed.xml.

## Long-form articles

- [S&P 500 100-Year Returns: Annual Returns by Year, CAGR & Worst Years](https://historyofmarket.com/articles/sp500-100-year-returns)
- [S&P 500 Average Annual Return: The Real Number (and Why It Misleads)](https://historyofmarket.com/articles/sp500-average-annual-return)
- [S&P 500 Annual Returns by Year: Complete Table](https://historyofmarket.com/articles/sp500-annual-returns-by-year)
- [Shiller PE Today: Is the U.S. Stock Market Overvalued?](https://historyofmarket.com/articles/shiller-pe-current)
- [Stock Market Crash History: Every Major U.S. Crash Since 1929](https://historyofmarket.com/articles/stock-market-crash-history)
- [S&P 500 Maximum Drawdowns: The Complete Bear Market Register](https://historyofmarket.com/articles/sp500-maximum-drawdowns)
- [Will the S&P 500 Be Up in 10 Years? Every Rolling Window Since 1928](https://historyofmarket.com/articles/sp500-10-year-investment-odds)
- [Nasdaq vs S&P 500: 40 Years of Returns, Drawdowns and Valuation](https://historyofmarket.com/articles/nasdaq-vs-sp500)
- [The VIX Explained: What the Fear Index Measures](https://historyofmarket.com/articles/vix-fear-index-explained)
- [Magnificent 7 Weight in the S&P 500](https://historyofmarket.com/articles/magnificent-7-sp500-weight)
- [AI Stocks vs the Dot-Com Bubble: The Valuation Numbers, Side by Side](https://historyofmarket.com/articles/ai-stocks-vs-dotcom-bubble)
- [美股历史最大回撤完整名册](https://historyofmarket.com/articles/us-stock-max-drawdowns) (Chinese counterpart)
- [Full article index](https://historyofmarket.com/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 https://historyofmarket.com/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.

- **Category hubs**: https://historyofmarket.com/sp500/ · https://historyofmarket.com/nasdaq/ · https://historyofmarket.com/semi/ · https://historyofmarket.com/xlk/ · https://historyofmarket.com/fin/ · https://historyofmarket.com/consumer/ · https://historyofmarket.com/mag7/
- **Embed gallery**: https://historyofmarket.com/embeds/ — panels available as free attribution-only iframes at `/embed/<slug>`

Full inventory: every panel in every locale, plus per-category hubs and their per-locale variants, all enumerated in https://historyofmarket.com/sitemap.xml.

## S&P 500 · § I The Shape of a Century

- [Nearly a century of annual verdicts](https://historyofmarket.com/sp500/annual/) — over the 98 complete years 1928–2025: 66 up, 30 down and 2 flat on price return; 72 up and 26 down on total return.
- [What annual returns actually look like](https://historyofmarket.com/sp500/annual-dist/) — arithmetic mean ≈ 11.9%, only 7 of 98 finished years within ±2% of it.
- [Pick any entry year, any exit year](https://historyofmarket.com/sp500/annualized-matrix/) — every hold-period combination.
- [Five years later, the typical return](https://historyofmarket.com/sp500/rolling/) — fewer than 10% of rolling 5-year windows are negative.
- [Fourteen crossings of zero](https://historyofmarket.com/sp500/sp500-logyoy/) — bull/bear handoffs on a log year-over-year scale, 1928→today.

## S&P 500 · § II Anchors of Valuation

- [Trailing PE vs Forward PE](https://historyofmarket.com/sp500/forward-pe/) — daily cap-weighted TTM PE plus quarterly consensus forward PE back to 1990.
- [S&P 500 EPS (TTM) since 1871](https://historyofmarket.com/sp500/eps/)
- [S&P 500 return on equity](https://historyofmarket.com/sp500/roe/) — steady near 15% for two decades.
- [Valuation / EPS driver decomposition](https://historyofmarket.com/sp500/sp500-driver-decomp/) — (1+r\_PE)·(1+r\_EPS) decomposition for every calendar year since 1928.

## S&P 500 · § III The Rhythm of Crisis

- [Every deep fall carries a name](https://historyofmarket.com/sp500/drawdown/) — every major decline since 1929 with category, cause, and recovery days.
- [Deepest intrayear drop vs year-end outcome](https://historyofmarket.com/sp500/intrayear-dd/) — average intrayear -14%, year-end average still positive.
- [The market's breathing rate](https://historyofmarket.com/sp500/volatility/) — 20/60-day realized vol; long-term median ≈ 15%.
- [VIX — the bill for buying protection](https://historyofmarket.com/sp500/vix/) — >30 typically marks crisis pricing.
- [Twelve months, twelve temperaments](https://historyofmarket.com/sp500/monthly/) — November and April friendliest, September cruelest.

## S&P 500 · § IV Anatomy of the Index

- [How the S&P 500 is built](https://historyofmarket.com/sp500/rules/) — eligibility, weighting, governance.
- [GICS eleven-sector weight distribution](https://historyofmarket.com/sp500/sectors/)
- [Magnificent 7 equal-weight index](https://historyofmarket.com/sp500/m7/)
- [500 constituents — market cap × 1-year return × index weight](https://historyofmarket.com/sp500/scatter/)
- [Index metabolism — additions and removals](https://historyofmarket.com/sp500/changes/)

## Nasdaq series · § I–V

- [Nasdaq Composite — from 100 (Feb 5, 1971) to 16,000+](https://historyofmarket.com/nasdaq/nasdaq-composite/)
- [Footprints of a bubble — log YoY, 1971→today](https://historyofmarket.com/nasdaq/nasdaq-logyoy/)
- [Constituent return rankings — 1W / 1M / YTD / 1Y](https://historyofmarket.com/nasdaq/nasdaq100-ytd/)
- [Nasdaq 100 forward PE](https://historyofmarket.com/nasdaq/ndx-forward-pe/) — 12-month consensus, monthly back to 2001.
- [Nasdaq 100 · rerating × revision](https://historyofmarket.com/nasdaq/ndx-driver-decomp/) — annual decomposition into forward-PE change × forward-EPS revision, 2002→.
- [QQQ annual returns since 1999](https://historyofmarket.com/nasdaq/nasdaq100-annual/) — ~15% average; -42% in 2008.
- [Nasdaq 100 annual return distribution](https://historyofmarket.com/nasdaq/ndx-annual-dist/)
- [Nasdaq 100 · pick entry, pick exit](https://historyofmarket.com/nasdaq/ndx-matrix/)
- [Nasdaq 100 · five-year rolling annualized](https://historyofmarket.com/nasdaq/ndx-rolling/)
- [Nasdaq 100 · 59 historical drawdowns](https://historyofmarket.com/nasdaq/ndx-drawdown/) — 2000-2002 cumulative -83%.
- [Nasdaq 100 · intrayear drawdown vs year-end](https://historyofmarket.com/nasdaq/ndx-intrayear-dd/)
- [Nasdaq 100 · 20/60-day realized vol](https://historyofmarket.com/nasdaq/ndx-volatility/) — median ~22%, systematically above S&P 500.
- [VXN · the Nasdaq fear index](https://historyofmarket.com/nasdaq/ndx-vxn/)
- [Nasdaq 100 monthly return heatmap](https://historyofmarket.com/nasdaq/ndx-monthly/)
- [Nasdaq 100 constituents & weights](https://historyofmarket.com/nasdaq/nasdaq100-companies/)
- [Top 25 holdings & cumulative weight](https://historyofmarket.com/nasdaq/nasdaq100-weights/) — top 7 names ≈ 50% of the index.

## Semiconductors · § I–IV (Philadelphia Semiconductor Index)

- [SOX — three decades of the highest-amplitude industry](https://historyofmarket.com/semi/semi-price/)
- [SOX annual return ledger](https://historyofmarket.com/semi/semi-annual/)
- [SOX annual return distribution](https://historyofmarket.com/semi/semi-annual-dist/)
- [Intrayear drawdown vs year-end return](https://historyofmarket.com/semi/semi-intrayear-dd/) — even up years routinely contain double-digit drops.
- [SOX's 30 constituents by sub-industry](https://historyofmarket.com/semi/semi-composition/)
- [VanEck Semiconductor ETF (SMH) holdings](https://historyofmarket.com/semi/semi-smh/)
- [Memory's three-way split](https://historyofmarket.com/semi/semi-memory/) — MU on US exchanges, Samsung & SK Hynix on KOSPI.
- [Cross-basis ratios — SOX/SPX, SOX/XLK, XLK/SPX](https://historyofmarket.com/semi/semi-ratios/)
- [Memory & HBM TTM PE vs 1999 dotcom peak](https://historyofmarket.com/semi/semi-memory-valuation/) — MU and NVDA against the CSCO/ORCL/SUNW reference bands.

## Information Technology (XLK) · § I–IV

- [XLK's arc since 1998](https://historyofmarket.com/xlk/xlk-price/)
- [XLK year-by-year ledger](https://historyofmarket.com/xlk/xlk-annual/)
- [XLK annual return distribution](https://historyofmarket.com/xlk/xlk-annual-dist/)
- [XLK intrayear amplitude](https://historyofmarket.com/xlk/xlk-intrayear-dd/)
- [XLK top holdings & cumulative weight](https://historyofmarket.com/xlk/xlk-holdings/) — AAPL+MSFT+NVDA already past 50%.
- [The seam of 2018](https://historyofmarket.com/xlk/xlk-reclass/) — GICS moved GOOGL/META/NFLX out of Information Technology.

## Financials (XLF) · § I–IV

- [XLF's arc since 1998](https://historyofmarket.com/fin/fin-price/) — -84% through the 2008 GFC, the deepest scar in any US sector ETF.
- [XLF year-by-year ledger](https://historyofmarket.com/fin/fin-annual/)
- [XLF annual return distribution](https://historyofmarket.com/fin/fin-annual-dist/)
- [XLF intrayear amplitude](https://historyofmarket.com/fin/fin-intrayear-dd/)
- [2008 — five vanished, five survived](https://historyofmarket.com/fin/fin-crisis/) · Bear, Lehman, WaMu, Wachovia, AIG vs JPM, GS, MS, BAC, WFC.
- [Yield curve × XLF](https://historyofmarket.com/fin/fin-rates/) — 2y-10y spread vs the sector's trailing 12-month return.
- [March 2023 — V and MA become Financials](https://historyofmarket.com/fin/fin-reclass/)
- [XLF's top holdings](https://historyofmarket.com/fin/fin-holdings/)

## Magnificent 7 · § I–V

- [Mag 7 equal-weight composite](https://historyofmarket.com/mag7/mag7-index/)
- [Mag 7 as % of S&P 500 cap](https://historyofmarket.com/mag7/mag7-concentration/) — 13% in 2018 → 33%+ at year-end 2024.
- [Per-member peak-to-date drawdown](https://historyofmarket.com/mag7/mag7-drawdown/)
- [Seven names or one trade?](https://historyofmarket.com/mag7/mag7-correlation/) — 60-day rolling pairwise correlation + 5-year average.
- [AI leaders vs the 1999 dotcom peak](https://historyofmarket.com/mag7/mag7-ai-valuation/) — NVDA / MSFT / META / GOOGL TTM PE against CSCO 140× / ORCL 150× bands.
- [Ancestors of M7](https://historyofmarket.com/mag7/mag7-predecessors/) — Nifty Fifty → Four Horsemen → FANG → FAANG → Mag 7.

## Data APIs (JSON)

Every chart's underlying data is a JSON GET at `/api/<dataset>.json`. CORS is wide open. Free for research and educational use under CC BY 4.0; cite as "History of Market — The Chronicle of the U.S. Stock Market, [dataset], historyofmarket.com, accessed [date]."

- https://historyofmarket.com/api/_manifest.json — catalog + last refresh timestamp
- https://historyofmarket.com/api/_latest.json — current readings (value, unit, observation date), keyed by panel slug
- https://historyofmarket.com/feed.xml · https://historyofmarket.com/feed.json — article feed (Atom / JSON Feed)
- https://historyofmarket.com/data-feed.xml — dataset update feed (Atom)
- https://historyofmarket.com/api/profile.json — single-file site profile for AI agents
- https://historyofmarket.com/api/tools.json — machine-callable tool list (MCP-style)
- https://historyofmarket.com/api/sp500/century.json — S&P 500 daily closes 1928→
- https://historyofmarket.com/api/sp500/annual-returns.json — annual returns 1928→
- https://historyofmarket.com/api/sp500/drawdowns.json — drawdown register 1929→
- https://historyofmarket.com/api/sp500/vix.json — VIX daily 1990→
- https://historyofmarket.com/api/sp500/forward-pe.json — S&P 500 trailing & forward PE
- https://historyofmarket.com/api/sp500/eps.json — S&P 500 TTM EPS 1871→
- https://historyofmarket.com/api/sp500/driver-decomp.json — annual valuation × EPS driver decomposition, 1928→
- https://historyofmarket.com/api/sp500/constituents.json — current 500 members
- https://historyofmarket.com/api/nasdaq/composite.json — Nasdaq Composite 1971→
- https://historyofmarket.com/api/ndx/daily.json — Nasdaq 100 1985→
- https://historyofmarket.com/api/ndx/forward-pe.json — Nasdaq 100 consensus forward PE 2001→
- https://historyofmarket.com/api/ndx/driver-decomp.json — Nasdaq 100 rerating × revision decomposition, 2002→
- https://historyofmarket.com/api/dow/century.json — Dow Jones Industrial Average 1914→
- https://historyofmarket.com/api/semi/price.json — Philadelphia Semiconductor Index 1994→
- https://historyofmarket.com/api/semi/composition.json — SOX 30 constituents by sub-industry
- https://historyofmarket.com/api/semi/smh.json — VanEck Semiconductor ETF (SMH) holdings
- https://historyofmarket.com/api/semi/ratios.json — SOX/SPX, SOX/XLK, XLK/SPX rebased ratios
- https://historyofmarket.com/api/semi/memory-valuation.json — MU/NVDA TTM PE vs 1999 dotcom peak
- https://historyofmarket.com/api/xlk/price.json — Information Technology (XLK) ETF 1998→
- https://historyofmarket.com/api/xlk/holdings.json — XLK top holdings & cumulative weight
- https://historyofmarket.com/api/xlk/reclass-2018.json — 2018 GICS communication-services reshuffle
- https://historyofmarket.com/api/fin/price.json — Financials (XLF) ETF 1998→
- https://historyofmarket.com/api/fin/crisis-2008.json — 2008 financial crisis cohort (5 vanished + 5 survived)
- https://historyofmarket.com/api/fin/rates.json — 2y-10y yield curve × XLF 12-month return
- https://historyofmarket.com/api/fin/reclass-2023.json — 2023 GICS payments-into-financials reshuffle
- https://historyofmarket.com/api/consumer/xly-price.json — Consumer Discretionary (XLY) ETF 1998→
- https://historyofmarket.com/api/consumer/xlp-price.json — Consumer Staples (XLP) ETF 1998→
- https://historyofmarket.com/api/consumer/ratio.json — XLY ÷ XLP daily risk-appetite ratio
- https://historyofmarket.com/api/consumer/companies.json — 12 consumer companies indexed to 100 on 1998-12-22
- https://historyofmarket.com/api/consumer/extinction.json — retail extinction ledger (5 Chapter 11 filers + 5 survivors)
- https://historyofmarket.com/api/consumer/reclass-2023.json — 2023 GICS move of TGT / DG / DLTR into Staples
- https://historyofmarket.com/api/fin/holdings.json — XLF top holdings & cumulative weight
- https://historyofmarket.com/api/mag7/concentration.json — M7 % of S&P 500 cap, quarterly
- https://historyofmarket.com/api/mag7/ai-valuation.json — NVDA/MSFT/META/GOOGL TTM PE vs 1999 forward PE bands
- https://historyofmarket.com/api/mag7/predecessors.json — Nifty Fifty → FANG → Mag 7 lineage
- https://historyofmarket.com/api/m7/index.json — Magnificent 7 equal-weighted composite
- https://historyofmarket.com/api/aiae.json — Aggregate Investor Allocation to Equities
- https://historyofmarket.com/api/recessions.json — NBER recession dates

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Data: https://historyofmarket.com/api/sp500/century.json · https://historyofmarket.com/api/sp500/annual-returns.json · https://historyofmarket.com/api/sp500/annual-tr.json · https://historyofmarket.com/api/sp500/drawdowns.json · https://historyofmarket.com/api/sp500/vix.json · https://historyofmarket.com/api/sp500/pe.json · https://historyofmarket.com/api/sp500/eps.json · https://historyofmarket.com/api/aiae.json · https://historyofmarket.com/api/sp500/constituents.json · https://historyofmarket.com/api/nasdaq/composite.json · https://historyofmarket.com/api/ndx/daily.json · https://historyofmarket.com/api/ndx/price.json · https://historyofmarket.com/api/ndx/vxn.json · https://historyofmarket.com/api/dow/century.json · https://historyofmarket.com/api/m7/index.json · https://historyofmarket.com/api/recessions.json
Machine index: https://historyofmarket.com/llms.txt