The S&P 500 in 1985
The S&P 500 rose 26.3% in 1985, from 167.24 to 211.28; with dividends reinvested, the total return was +31.2%. That ranks 1985 18th-best of the 98 complete calendar years since 1928.
- Price return
- +26.3%
- Total return
- +31.2%
- Deepest decline in the year
- −7.7%September 25, 1985
- Year-end close
- 211.28December 31, 1985
- Highest close
- 212.02December 16, 1985
- Lowest close
- 163.68January 4, 1985
- Record closes
- 43
- Trading days
- 252
- Best day
- +2.3%January 21, 1985
- Worst day
- −1.5%July 29, 1985
- Shiller CAPE in January
- 10.0
How 1985 unfolded
The highest close of the year was 212.02 on December 16, 1985; the lowest was 163.68 on January 4, 1985.
The deepest fall from a peak within the year was −7.7%, bottoming on September 25, 1985.
43 closes set new all-time highs, the last on December 16, 1985.
The best session was January 21, 1985 (+2.3%); the worst was July 29, 1985 (−1.5%).
No month of 1985 falls inside an NBER-dated recession.
The Shiller CAPE stood at 10.0 in January 1985.
Drawdowns that touched 1985
| Drawdown | Peak → trough | Decline | Back at the record |
|---|---|---|---|
| Correction (10–20%) | October 10, 1983 → July 24, 1984 | −14.4% | January 21, 1985 |
| Pullback (5–10%) | July 17, 1985 → September 25, 1985 | −7.7% | November 11, 1985 |
Every decline of 5% or more from a record close that was under way, or still being recovered, during 1985.
What $10,000 at the start of 1985 became
$10,000 invested in the S&P 500 at the start of 1985, with dividends reinvested, grew to $1,012,870 by the end of 2025: 11.9% a year. On price alone, without dividends, it came to $409,291.
FAQ
What was the S&P 500 return in 1985?
The S&P 500 rose 26.3% in 1985, from 167.24 to 211.28; with dividends reinvested, the total return was +31.2%.
How far did the S&P 500 fall in 1985?
Its deepest peak-to-trough decline within 1985 was −7.7%, reaching bottom on September 25, 1985.
Was 1985 part of a bear market?
No. No decline of 20% or more from a record close was under way in 1985.
Did the S&P 500 hit a record high in 1985?
Yes: 43 closes set new all-time highs in 1985, the last on December 16, 1985.
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.