US Maximum Drawdowns (50 years) - A5

What do major stock market crashes look like?

This visual represents the six largest U.S. stock market drawdowns since 1975. 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. Deeper apexes correspond to larger capital losses.

The 2007–2008 financial crisis produced the deepest drawdown (−50%) and required 46 months to recover. The dot-com crash (−44%) followed a similar trajectory. Black Monday in 1987 saw a sharp decline (−27%) but recovered within 14 months. The early-1980s recession generated a milder drawdown (−20%) with an 8-month recovery. More recent crises rebounded faster: COVID-19 (−22%) recovered in 7 months, while the 2022 downturn (−20%) required 23 months.

Data & Method
Monthly S&P 500 price index, 1975–2025, 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: Portrait
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)