The S&P 500 in 1977
The S&P 500 fell 11.5% in 1977, from 107.46 to 95.10; with dividends reinvested, the total return was −7.0%. That ranks 1977 18th-worst of the 98 complete calendar years since 1928.
- Price return
- −11.5%
- Total return
- −7.0%
- Deepest decline in the year
- −15.2%November 2, 1977
- Year-end close
- 95.10December 30, 1977
- Highest close
- 107.00January 3, 1977
- Lowest close
- 90.71November 2, 1977
- Record closes
- 0
- Trading days
- 252
- Best day
- +1.9%November 10, 1977
- Worst day
- −1.6%July 27, 1977
- Shiller CAPE in January
- 11.4
How 1977 unfolded
The highest close of the year was 107.00 on January 3, 1977; the lowest was 90.71 on November 2, 1977.
The deepest fall from a peak within the year was −15.2%, bottoming on November 2, 1977.
No close set a new all-time high.
The best session was November 10, 1977 (+1.9%); the worst was July 27, 1977 (−1.6%).
No month of 1977 falls inside an NBER-dated recession.
The Shiller CAPE stood at 11.4 in January 1977.
Drawdowns that touched 1977
| Drawdown | Peak → trough | Decline | Back at the record |
|---|---|---|---|
| Oil Shock and Stagflation | January 11, 1973 → October 3, 1974 | −48.2% | July 17, 1980 |
Every decline of 5% or more from a record close that was under way, or still being recovered, during 1977.
What $10,000 at the start of 1977 became
$10,000 invested in the S&P 500 at the start of 1977, with dividends reinvested, grew to $2,335,123 by the end of 2025: 11.8% a year. On price alone, without dividends, it came to $636,955.
FAQ
What was the S&P 500 return in 1977?
The S&P 500 fell 11.5% in 1977, from 107.46 to 95.10; with dividends reinvested, the total return was −7.0%.
How far did the S&P 500 fall in 1977?
Its deepest peak-to-trough decline within 1977 was −15.2%, reaching bottom on November 2, 1977.
Was 1977 part of a bear market?
No. No decline of 20% or more from a record close was under way in 1977.
Did the S&P 500 hit a record high in 1977?
No. The index never closed above its previous record in 1977.
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.