The S&P 500 in 1941
The S&P 500 fell 17.9% in 1941, from 10.58 to 8.69; with dividends reinvested, the total return was −12.8%. That ranks 1941 8th-worst of the 98 complete calendar years since 1928.
- Price return
- −17.9%
- Total return
- −12.8%
- Deepest decline in the year
- −22.9%December 29, 1941
- Year-end close
- 8.69December 31, 1941
- Highest close
- 10.86January 10, 1941
- Lowest close
- 8.37December 29, 1941
- Record closes
- 0
- Trading days
- 250
- Best day
- +4.4%December 30, 1941
- Worst day
- −3.2%December 9, 1941
- Shiller CAPE in January
- 13.9
How 1941 unfolded
The highest close of the year was 10.86 on January 10, 1941; the lowest was 8.37 on December 29, 1941.
The deepest fall from a peak within the year was −22.9%, bottoming on December 29, 1941.
No close set a new all-time high.
The best session was December 30, 1941 (+4.4%); the worst was December 9, 1941 (−3.2%).
No month of 1941 falls inside an NBER-dated recession.
The Shiller CAPE stood at 13.9 in January 1941.
Drawdowns that touched 1941
| Drawdown | Peak → trough | Decline | Back at the record |
|---|---|---|---|
| The 1929 Crash and the Great Depression | September 16, 1929 → June 1, 1932 | −86.2% | September 22, 1954 |
Every decline of 5% or more from a record close that was under way, or still being recovered, during 1941.
What $10,000 at the start of 1941 became
$10,000 invested in the S&P 500 at the start of 1941, with dividends reinvested, grew to $111,553,595 by the end of 2025: 11.6% a year. On price alone, without dividends, it came to $6,470,752.
FAQ
What was the S&P 500 return in 1941?
The S&P 500 fell 17.9% in 1941, from 10.58 to 8.69; with dividends reinvested, the total return was −12.8%.
How far did the S&P 500 fall in 1941?
Its deepest peak-to-trough decline within 1941 was −22.9%, reaching bottom on December 29, 1941.
Was 1941 part of a bear market?
No. No decline of 20% or more from a record close was under way in 1941.
Did the S&P 500 hit a record high in 1941?
No. The index never closed above its previous record in 1941.
Data and sources
Daily closes · Calendar-year price returns · Calendar-year total returns · Intra-year declines · Drawdowns from record closes · Shiller CAPE · NBER recession months (via FRED)
Index levels are daily closes. Price return leaves dividends out; total return reinvests them. A past year's page changes only when a later year completes and the rankings move.