The S&P 500 in 2003
The S&P 500 rose 26.4% in 2003, from 879.82 to 1,111.92; with dividends reinvested, the total return was +28.7%. That ranks 2003 17th-best of the 98 complete calendar years since 1928.
- Price return
- +26.4%
- Total return
- +28.7%
- Deepest decline in the year
- −14.1%March 11, 2003
- Year-end close
- 1,111.92December 31, 2003
- Highest close
- 1,111.92December 31, 2003
- Lowest close
- 800.73March 11, 2003
- Record closes
- 0
- Trading days
- 252
- Best day
- +3.5%March 17, 2003
- Worst day
- −3.5%March 24, 2003
- Shiller CAPE in January
- 22.9
How 2003 unfolded
The highest close of the year was 1,111.92 on December 31, 2003; the lowest was 800.73 on March 11, 2003.
The deepest fall from a peak within the year was −14.1%, bottoming on March 11, 2003.
No close set a new all-time high.
The best session was March 17, 2003 (+3.5%); the worst was March 24, 2003 (−3.5%).
No month of 2003 falls inside an NBER-dated recession.
The Shiller CAPE stood at 22.9 in January 2003.
The VIX averaged 22.0 over the year and closed as high as 34.7 on January 27, 2003.
Drawdowns that touched 2003
| Drawdown | Peak → trough | Decline | Back at the record |
|---|---|---|---|
| The Dot-Com Bust | March 24, 2000 → October 9, 2002 | −49.1% | May 30, 2007 |
Every decline of 5% or more from a record close that was under way, or still being recovered, during 2003.
2003 month by month
| Month | Return |
|---|---|
| January | −2.7% |
| February | −1.7% |
| March | +0.8% |
| April | +8.1% |
| May | +5.1% |
| June | +1.1% |
| July | +1.6% |
| August | +1.8% |
| September | −1.2% |
| October | +5.5% |
| November | +0.7% |
| December | +5.1% |
What $10,000 at the start of 2003 became
$10,000 invested in the S&P 500 at the start of 2003, with dividends reinvested, grew to $120,665 by the end of 2025: 11.4% a year. On price alone, without dividends, it came to $77,801.
FAQ
What was the S&P 500 return in 2003?
The S&P 500 rose 26.4% in 2003, from 879.82 to 1,111.92; with dividends reinvested, the total return was +28.7%.
How far did the S&P 500 fall in 2003?
Its deepest peak-to-trough decline within 2003 was −14.1%, reaching bottom on March 11, 2003.
Was 2003 part of a bear market?
No. No decline of 20% or more from a record close was under way in 2003.
Did the S&P 500 hit a record high in 2003?
No. The index never closed above its previous record in 2003.
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) · Monthly returns · 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.