US Maximum Drawdowns (100 years) - A5

What do major stock market crashes look like?

This visual represents the largest U.S. stock market drawdowns since 1925. A drawdown measures the loss experienced by an investor buying at a market peak and holding until prices recover to a new high. Each crash is shown as a triangle aligned at its lowest point. The base of the triangle represents the duration of the drawdown — the time markets remained below their previous peak — while the apex represents the maximum loss. An apex reaching the bottom of the graphic corresponds to a total loss of invested capital.

Red triangles denote crises of the past 50 years; black triangles represent earlier events. The Great Depression stands out with an 85% collapse and more than two decades to recover. Post-war crises show progressively faster rebounds. The dot-com crash and the 2008 financial crisis each erased roughly half of market value, with recoveries in under four years. Black Monday 1987 remains the sharpest single drop but also one of the quickest recoveries.

Data & Method
Monthly S&P 500 price index, 1925–2025, from Robert Shiller’s long-term US stock market dataset. Drawdowns computed as peak-to-trough declines until new highs are reached.

Product Specifications

Format: A5 (148 × 210 mm)
Orientation: Landscape
Paper: 350 g/m² uncoated paper
Printing: High-resolution digital print
Finish: Matte
Frame: Not included
Packaging: Flat protective sleeve
Production: Printed in France (Paris)