What the Dow Jones Was Worth the Year You Were Born

The Dow Jones Industrial Average has reflected the rise and fall of the American stock market since its inception. Originally founded on May 26, 1896 with just 12 member companies, the Dow as we know it today launched in October of 1928 as a collection of 30 stocks representing elite members of the economy. Since the 1928 date, only one member, General Electric, remains part of the Dow 30 today. Over the years, the Dow has reflected both the undercurrents of the American economy and the geopolitical realities of the day.

GOBankingRates reviewed the highs and lows of the Dow from 1930 to 2000. To make the numbers more meaningful, we adjusted each year’s figures for inflation. Read on to discover how the Dow performed in the year you were born, see how the most noteworthy events of the time affected the index, and learn how political conditions can affect the stock market.

• Highest Month: March — 286.10 (4156.46 adjusted for inflation)

• Lowest Month: December — 164.58 (2509.85 adjusted for inflation)

In 1930, the Dow was in the middle of the most famous bear market in history, triggered by the crash of Oct. 29, 1929 and lasting until June 1932.

Learn More: 11 Things Every Investor Should Know About the Dow Jones Industrial Average

• Highest Month: February — 189.66 (2965.90 adjusted for inflation)

• Lowest Month: December — 77.90 (1309.97 adjusted for inflation)

The Dow continued its massive decline in 1931, suffering through the beginning of the Great Depression. The massive number of unemployed people, resulting from a collapse of the boom years of the ’20s, would last until the start of World War II.

• Highest Month: February — 81.44 (1418.11 adjusted for inflation)

• Lowest Month: June — 42.84 (773.39 adjusted for inflation)

By the time the great bear market ended in June, the Dow had fallen 86 percent. The index did not reach its 1929 high again until 1954.

• Highest Month: August — 102.41 (1904.83 adjusted for inflation)

• Lowest Month: February — 51.39 (993.47 adjusted for inflation)

1933 was a turning point in Dow history, as the market began to recover in the wake of New Deal legislation and the establishment of the Federal Deposit Insurance Corporation, which insured money deposited in bank accounts. This is how the FDIC protects consumers.

• Highest Month: January — 107.22 (1994.29 adjusted for inflation)

• Lowest Month: July — 88.05 (1613.25 adjusted for inflation)

In response to the lack of regulation that amplified the bear market of the early 1930s, the Securities and Exchange Commission was established in 1934.

• Highest Month: December — 144.13 (2564.22 adjusted for inflation)

• Lowest Month: March — 100.81 (1806.62 adjusted for inflation)

Continuing the wave of Depression-era legislation enacted by President Franklin Roosevelt, Social Security was introduced in 1935, giving the market a boost by year’s end. Social Security has changed in drastic ways since its inception.

• Highest Month: November — 183.22 (3213.13 adjusted for inflation)

• Lowest Month: April — 145.67 (2610.55 adjusted for inflation)

The market bounced around in 1936. Even as the market started to recover, the Dust Bowl, where farms were destroyed by drought, epitomized the strife of the era.

• Highest Month: February — 187.30 (3261.45 adjusted for inflation)

• Lowest Month: December — 120.85 (2060.49 adjusted for inflation)

The Dow rolled over again in 1937, unable to maintain its footing as a result of the continuing depression.

• Highest Month: December — 154.76 (2714.03 adjusted for inflation)

• Lowest Month: March — 98.95 (1723.02 adjusted for inflation)

The market made some major moves in 1938, helped in part by the Fair Labor Standards Act, which established overtime pay and a minimum wage for Americans. From its March low, the Dow jumped more than 50 percent by December.

Related: The US Minimum Wage in the Year You Were Born

• Highest Month: September — 152.54 (2656.18 adjusted for inflation)

• Lowest Month: April — 128.45 (2285.25 adjusted for inflation)

Germany invaded Poland in September, and the winds of war swept the world in 1939, beginning the long process that would ultimately pull the U.S. out of the Great Depression.

• Highest Month: April — 148.43 (2603.02 adjusted for inflation)

• Lowest Month: May — 116.22 (2038.15 adjusted for inflation)

The realization that World War II would not be settled quickly helped pull down the Dow in 1940; between April and May, when the Germans invaded Denmark and Norway, the Dow fell more than 20 percent.

• Highest Month: July — 128.79 (2151.05 adjusted for inflation)

• Lowest Month: December — 110.96 (1757.61 adjusted for inflation)

Dec. 7 — “a date which will live in infamy” — helped drag down the market in December. After the surprise attack on Pearl Harbor, America realized it could no longer stay out of the war.

• Highest Month: December — 119.40 (1734.64 adjusted for inflation)

• Lowest Month: April — 95.35 (1454.09 adjusted for inflation)

Price controls began again as America ramped up its war efforts. The full-blown transformation to a wartime economy, however, kicked manufacturing growth into high gear, pushing the Dow higher by year-end.

Highs and Lows: The Best and Worst Decades for America’s Money

• Highest Month: June — 143.38 (2011.62 adjusted for inflation)

• Lowest Month: January — 125.58 (1824.43 adjusted for inflation)

In the midst of war, the Current Tax Payment Act introduced the concept of withholding taxes and created our current “pay-as-you-go” system.

• Highest Month: December — 152.32 (2100.95 adjusted for inflation)

• Lowest Month: April — 136.23 (1911.31 adjusted for inflation)

The Normandy invasion in June 1944 provided a lift to the market through the end of the year. Of all U.S. presidents, Roosevelt increased the national debt the most in percentage terms, thanks to World War II spending.

• Highest Month: December — 192.91 (2602.36 adjusted for inflation)

• Lowest Month: January — 153.67 (2119.57 adjusted for inflation)

The markets lifted as the war ended, with the European theater shutting down in May and victory in Japan arriving in September.

• Highest Month: May — 212.28 (2817.17 adjusted for inflation)

• Lowest Month: October — 169.15 (1996.65 adjusted for inflation)

The first post-war bear market struck in May 1946, as demand tapered off and Americans began saving instead of investing. There were also some growing pains as the economy attempted to return to normalcy after years of wartime production.

Do This: 20 Things to Do in a Falling Stock Market

• Highest Month: July — 183.18 (2025.79 adjusted for inflation)

• Lowest Month: May — 169.25 (1897.46 adjusted for inflation)

The bear market continued throughout 1947, which also saw the enactment of the Taft-Hartley Labor Act, restricting certain union activities.

• Highest Month: May — 190.74 (1959.47 adjusted for inflation)

• Lowest Month: February — 167.30 (1747.95 adjusted for inflation)

While the bear market continued throughout 1948, the year is most remembered for the epic — and erroneous — political headline, “Dewey Defeats Truman,” as President Harry Truman went on to win re-election.

• Highest Month: December — 200.13 (2081.95 adjusted for inflation)

• Lowest Month: June — 167.42 (1719.91 adjusted for inflation)

By June of 1949, the brutal post-war bear market had ended; that same year, the British devalued the pound by 30 percent, the first of 28 currencies to do so.

Money Matters: How Much Is Your Dollar Worth Around the World?

• Highest Month: December — 235.41 (2311.96 adjusted for inflation)

• Lowest Month: January — 201.79 (2108.30 adjusted for inflation)

The Dow had a good year in 1950, hitting a peak in December. Against this positive financial backdrop, war broke out on the Korean peninsula.

• Highest Month: September — 271.16 (2550.80 adjusted for inflation)

• Lowest Month: June — 242.64 (2299.98 adjusted for inflation)

The Korean War continued through 1951, but the news wasn’t all negative. The Dow rose, and the world enjoyed the first color commercial TV broadcast.

• Highest Month: December — 291.90 (2684.02 adjusted for inflation)

• Lowest Month: April — 257.63 (2395.96 adjusted for inflation)

The Korean War continued to rage, and the Dow continued to climb. The effects of the war played a role in the steel strike of 1952, as workers protested wage controls.

• Highest Month: January — 289.77 (2674.58 adjusted for inflation)

• Lowest Month: August — 261.22 (2384.15 adjusted for inflation)

The Korean War ended in 1953, along with the wage and price controls the government had instilled to stabilize the economy.

• Highest Month: December — 404.39 (3718.37 adjusted for inflation)

• Lowest Month: January — 292.39 (2668.64 adjusted for inflation)

1954 saw a booming stock market and the passage of the St. Lawrence Seaway Bill, which opened a route for large ships from the Atlantic Ocean to Duluth, Minn., via the Great Lakes.

• Highest Month: December — 488.40 (4474.23 adjusted for inflation)

• Lowest Month: January — 408.83 (3759.19 adjusted for inflation)

The Dow started low in January but finished strong by December. This was also the year President Dwight Eisenhower suffered a heart attack.

• Highest Month: July — 517.81 (4640.10 adjusted for inflation)

• Lowest Month: January — 470.74 (4312.45 adjusted for inflation)

The Suez Canal crisis struck in July 1956, taking the Dow down with it. The market wouldn’t fully recover until 1958.

Know the Indicators: 10 Recession Warning Signs You Need to Know

• Highest Month: July — 508.52 (4411.92 adjusted for inflation)

• Lowest Month: December — 435.69 (3766.54 adjusted for inflation)

Fear gripped America — and the Dow — in 1957, when the Soviet Union launched the world’s first satellite, Sputnik I.

• Highest Month: December — 583.65 (4958.11 adjusted for inflation)

• Lowest Month: February — 439.92 (3776.71 adjusted for inflation)

The Dow began to recover, and so did the U.S. space program, launching America’s first satellite, Explorer 1, on Jan. 31.

• Highest Month: December — 679.36 (5673.34 adjusted for inflation)

• Lowest Month: January — 593.96 (5028.47 adjusted for inflation)

The St. Lawrence Seaway, approved in 1954, finally opened in 1959, offering the promise of economic growth.

• Highest Month: June — 640.62 (5313.94 adjusted for inflation)

• Lowest Month: September — 580.14 (4812.26 adjusted for inflation)

In May 1960, U.S. pilot Francis Gary Powers was shot down while flying a U-2 spy mission through Soviet airspace. Rising geopolitical concerns helped pull down the Dow from June to September.

• Highest Month: December — 731.14 (5983.65 adjusted for inflation)

• Lowest Month: January — 648.20 (5340.52 adjusted for inflation)

While the Dow did well for most of 1961, the botched invasion of Cuba in the Bay of Pigs debacle and other international tensions triggered the start of a bear market in December.

• Highest Month: February — 708.05 (5775.56 adjusted for inflation)

• Lowest Month: June — 561.28 (4563.21 adjusted for inflation)

The bear market lasted until June of 1962; jitters rose again in October, during the Cuban Missile Crisis.

• Highest Month: December — 762.95 (6062.40 adjusted for inflation)

• Lowest Month: February — 662.94 (5353.90 adjusted for inflation)

1963 saw big gains for the Dow, upset briefly in November by the assassination of President John Kennedy.

• Highest Month: November — 875.43 (6888.76 adjusted for inflation)

• Lowest Month: January — 785.34 (6240.31 adjusted for inflation)

The Vietnam War began in 1964, after the Gulf of Tonkin resolution; still, the Dow continued to rise.

• Highest Month: December — 969.26 (7483.66 adjusted for inflation)

• Lowest Month: June — 868.03 (6744.59 adjusted for inflation)

The economic period known as “The Great Inflation” began in 1965, but the Dow continued to rally.

The Good, the Bad and the Ugly: 10 Effects of Inflation — and How to Protect Your Money Now

• Highest Month: January — 983.51 (7593.68 adjusted for inflation)

• Lowest Month: September — 774.22 (5812.84 adjusted for inflation)

The U.S. began an active bombing campaign on population centers in Vietnam, helping trigger a mini-bear market. The Dow recorded an 18.94 percent loss for the year.

• Highest Month: September — 926.66 (6771.10 adjusted for inflation)

• Lowest Month: February — 839.37 (6264.22 adjusted for inflation)

1967 saw the rapid recovery of the Dow, as the index recorded a gain of 15.20 percent.

• Highest Month: November — 985.08 (6832.51 adjusted for inflation)

• Lowest Month: February — 840.50 (6033.95 adjusted for inflation)

High inflation, rising tensions in Vietnam, devastating assassinations and the election of President Richard Nixon all helped trigger a bear market.

• Highest Month: April — 950.18 (6427.02 adjusted for inflation)

• Lowest Month: December — 800.36 (5211.94 adjusted for inflation)

The Dow continued its bear market decline in 1969, as Vietnam protests and economic malaise persisted.

• Highest Month: December — 838.92 (5175.30 adjusted for inflation)

• Lowest Month: June — 683.53 (4325.38 adjusted for inflation)

A new decade finally saw the end of the late-60s bear market, during which the Standard & Poor’s 500 index fell 36.1 percent.

Master the Market: 11 Things Every Investor Should Know About the S&P 500 Index

• Highest Month: April — 941.75 (5766.34 adjusted for inflation)

• Lowest Month: November — 831.34 (4990.53 adjusted for inflation)

Wage and price controls enacted by Nixon in August 1971 resulted in a brief rally, though the Dow dipped again by November.

• Highest Month: December — 1020.02 (5892.66 adjusted for inflation)

• Lowest Month: January– 902.17 (5389.56 adjusted for inflation)

In November, the Dow crossed the 1,000-point threshold for the first time — a major milestone.

• Highest Month: January — 999.02 (5757.35 adjusted for inflation)

• Lowest Month: November — 822.25 (4398.22 adjusted for inflation)

The Arab oil embargo and an inflation rate topping 10 percent contributed to the rise of a new bear market.

• Highest Month: February — 860.53 (4476.48 adjusted for inflation)

• Lowest Month: September — 607.87 (2949.39 adjusted for inflation)

The economic carnage continued in 1974, due in part to Nixon’s resignation.

• Highest Month: June — 878.99 (4026.65 adjusted for inflation)

• Lowest Month: January — 703.69 (3315.79 adjusted for inflation)

In 1975, Saigon fell, the war in Vietnam officially ended and the Dow raced to a 38.32 percent gain.

• Highest Month: December — 1004.65 (4238.62 adjusted for inflation)

• Lowest Month: November — 947.22 (4009.58 adjusted for inflation)

The year of America’s bicentennial saw strong gains in the Dow, which rose 17.86 percent.

• Highest Month: January — 954.37 (4005.49 adjusted for inflation)

• Lowest Month: October — 818.35 (3261.94 adjusted for inflation)

The Dow reversed course in 1977, falling 17.27 percent.

• Highest Month: August — 876.82 (3261.77 adjusted for inflation)

• Lowest Month: February — 742.12 (2896.49 adjusted for inflation)

The Full Employment and Balanced Growth Act, also known as the Humphrey-Hawkins Act, directed the Federal Reserve to target full employment and price stability, a focus that remains to this day. The Dow limped in with a 3.15 percent loss.

• Highest Month: August — 887.63 (2953.15 adjusted for inflation)

• Lowest Month: February — 808.82 (2873.74 adjusted for inflation)

The Iran hostage crisis in November helped keep a lid on an otherwise-recovering Dow in 1979.

• Highest Month: November — 993.34 (2852.87 adjusted for inflation)

• Lowest Month: March — 785.75 (2408.32 adjusted for inflation)

Years of sustained inflation led the Fed to raise interest rates to nearly 20 percent, tipping the economy into recession and starting a 21-month bear market in November.

• Highest Month: March — 1003.87 (2784.74 adjusted for inflation)

• Lowest Month: September — 849.98 (2238.85 adjusted for inflation)

The hangover from the Fed policies begun in 1980 continued through 1981, sending the Dow spiraling down even further.

What the Future Holds: Another Recession Would Ruin Two-Thirds of Americans, Survey Finds

• Highest Month: December — 1046.54 (2633.09 adjusted for inflation)

• Lowest Month: July — 808.60 (2036.05 adjusted for inflation)

In August, the stock market began to turn as the economy climbed out of recession.

• Highest Month: November — 1276.02 (3095.62 adjusted for inflation)

• Lowest Month: January — 1075.70 (2700.01 adjusted for inflation)

The market continued its post-recession run in 1983, gaining 20.27 percent for the year.

• Highest Month: August — 1224.38 (2876.07 adjusted for inflation)

• Lowest Month: May — 1104.85 (2622.91 adjusted for inflation)

The failure of the Continental Illinois National Bank and Trust Company, then the largest in the U.S., helped drag the Dow to a loss of 3.74 percent in 1984. Today, Continental Illinois doesn’t even make the list of biggest bank failures in U.S. history.

• Highest Month: December — 1546.67 (3473.82 adjusted for inflation)

• Lowest Month: April — 1258.06 (2889.76 adjusted for inflation)

The Dow had a big year, thanks to the passage of the Gramm-Rudman-Hollings Act, designed to reduce the deficit.

• Highest Month: November — 1914.23 (4257.25 adjusted for inflation)

• Lowest Month: January — 1570.99 (3519.02 adjusted for inflation)

While the markets suffered as a result of the Iran-Contra affair, the Chernobyl accident and the U.S. attacking Libya, the Dow still managed to grow 22.58 percent.

• Highest Month: August — 2662.95 (5714.69 adjusted for inflation)

• Lowest Month: November — 1833.55 (3901.79 adjusted for inflation)

1987 is most noted for the October Black Monday crash, when the Dow dropped 22 percent in one day, but stocks actually finished in the black for the year.

Looking Forward: Why Investors Need to Understand Stock Market Futures

• Highest Month: December — 2168.57 (4419.55 adjusted for inflation)

• Lowest Month: January — 1958.22 (4155.34 adjusted for inflation)

The Dow managed to turn in an average year in 1988, despite suffering a brief dip around the bombing of Pan Am 103 over Scotland.

• Highest Month: December — 2753.20 (5360.48 adjusted for inflation)

• Lowest Month: February — 2258.39 (4559.69 adjusted for inflation)

The Dow had a mini-crash in October, in the wake of a failed United Airlines buyout, but recovered well.

• Highest Month: July — 2905.20 (5470.49 adjusted for inflation)

• Lowest Month: October — 2442.33 (4491.44 adjusted for inflation)

The market took a dip in 1990, in the wake of the Iraqi invasion of Kuwait.

• Highest Month: December — 3168.83 (5640.52 adjusted for inflation)

• Lowest Month: January — 2736.39 (4991.18 adjusted for inflation)

The Gulf War ended, and the Dow crossed 3,000 for the first time.

• Highest Month: May — 3396.90 (5968.35 adjusted for inflation)

• Lowest Month: January — 3223.40 (5731.21 adjusted for inflation)

The first year after the Cold War saw mild returns for the Dow, which ticked up 4.17 percent.

• Highest Month: December — 3754.09 (6321.89 adjusted for inflation)

• Lowest Month: January — 3310 (5699.82 adjusted for inflation)

The World Trade Center bombing caused a market dip in 1993, but the Dow ended the year strong, rising 13.72 percent.

• Highest Month: January — 3978.36 (6679.67 adjusted for inflation)

• Lowest Month: June — 3624.96 (6013.81 adjusted for inflation)

The Dow had an unremarkable year — rising just 2.14 percent — after the institution of NAFTA.

• Highest Month: December — 5117.12 (8182.27 adjusted for inflation)

• Lowest Month: January — 3843.86 (6280.87 adjusted for inflation)

The Dow recorded two major milestones in 1995, topping both 4,000 and 5,000 for the first time. The booming bull market lasted throughout the decade.

• Highest Month: November — 6521.70 (10095.59 adjusted for inflation)

• Lowest Month: January — 5395.30 (8578.53 adjusted for inflation)

In October, the Dow crossed 6,000 for the first time. Federal Reserve chairman Alan Greenspan later warned of “irrational exuberance” in the market, a prophecy that proved to be accurate.

Find the Right Advisors: 10 Worst Wall Street Opinions in History

• Highest Month: July — 8222.60 (12580.58 adjusted for inflation)

• Lowest Month: March — 6583.48 (10099.06 adjusted for inflation)

The Dow hit 7,000 and 8,000 for the first time in 1997.

• Highest Month: December — 9181.43 (13753.78 adjusted for inflation)

• Lowest Month: August — 7539.07 (11331.22 adjusted for inflation)

1998 saw the Dow climb above 9,000 for the first time amid a technological boom that can only be described as a frenzy.

Related: How to Know When to Sell Stocks

• Highest Month: December — 11497.12 (16774.30 adjusted for inflation)

• Lowest Month: February — 9306.58 (13894.72 adjusted for inflation)

The mythical 10,000-point level was crossed for the first time in Dow history, marking the fifth year in a row that the Dow gained at least 16 percent.

• Highest Month: August — 11215.10 (15936.66 adjusted for inflation)

• Lowest Month: February — 10128.31 (14645.54 adjusted for inflation)

The market peaked above 11,000, but the dot-com bubble burst in March, sending the Dow back down.

Up Next: Here’s How Much a New Home Cost the Year You Were Born

Images are for representational purposes only.