The S&P 500 in 1994
The S&P 500 fell 1.5% in 1994, from 466.45 to 459.27; with dividends reinvested, the total return was +1.3%. That ranks 1994 28th-worst of the 98 complete calendar years since 1928.
- Price return
- −1.5%
- Total return
- +1.3%
- Deepest decline in the year
- −8.9%April 4, 1994
- Year-end close
- 459.27December 30, 1994
- Highest close
- 482.00February 2, 1994
- Lowest close
- 438.92April 4, 1994
- Record closes
- 5
- Trading days
- 252
- Best day
- +2.1%April 5, 1994
- Worst day
- −2.3%February 4, 1994
- Shiller CAPE in January
- 21.4
How 1994 unfolded
The highest close of the year was 482.00 on February 2, 1994; the lowest was 438.92 on April 4, 1994.
The deepest fall from a peak within the year was −8.9%, bottoming on April 4, 1994.
5 closes set new all-time highs, the last on February 2, 1994.
The best session was April 5, 1994 (+2.1%); the worst was February 4, 1994 (−2.3%).
No month of 1994 falls inside an NBER-dated recession.
The Shiller CAPE stood at 21.4 in January 1994.
The VIX averaged 13.9 over the year and closed as high as 23.9 on April 4, 1994.
Drawdowns that touched 1994
| Drawdown | Peak → trough | Decline | Back at the record |
|---|---|---|---|
| Pullback (5–10%) | February 2, 1994 → April 4, 1994 | −8.9% | February 14, 1995 |
Every decline of 5% or more from a record close that was under way, or still being recovered, during 1994.
What $10,000 at the start of 1994 became
$10,000 invested in the S&P 500 at the start of 1994, with dividends reinvested, grew to $267,823 by the end of 2025: 10.8% a year. On price alone, without dividends, it came to $146,746.
FAQ
What was the S&P 500 return in 1994?
The S&P 500 fell 1.5% in 1994, from 466.45 to 459.27; with dividends reinvested, the total return was +1.3%.
How far did the S&P 500 fall in 1994?
Its deepest peak-to-trough decline within 1994 was −8.9%, reaching bottom on April 4, 1994.
Was 1994 part of a bear market?
No. No decline of 20% or more from a record close was under way in 1994.
Did the S&P 500 hit a record high in 1994?
Yes: 5 closes set new all-time highs in 1994, the last on February 2, 1994.
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) · VIX daily closes
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.