![]() ![]() The Dow loses 48.5% of its value over the next 22 months, before reaching a low of 53.00 on November 15, 1907. After setting an all-time low during the summer of 1896, the Dow quickly erases these losses, and eventually reaches a peak of 103.00 on January 19, 1906. The Dow plunges over 63% over the next six years, to set an all-time low of 28.48, on August 8, 1896. This record would stand for nearly 15 years, until the Dow closed at 79.27 on March 24, 1905. From its first close of 62.76 on February 16, 1885, the Dow rises steadily for five years, until reaching a peak of 78.38 on June 4, 1890. ![]() The following are the secular bull and bear markets experienced by the Dow since its inception: It usually occurs within relatively longer bear markets and lasts about three years. A cyclical bull market is a period in which the stock market index is reaching 52-week or multi-year highs and may briefly peak at all-time highs before a rapid decline, as in the early 1970s. A secular bull market is a period in which the stock market index is continually reaching all-time highs with only brief periods of correction, as during the 1990s, and can last upwards of 15 years. Wall Street generally considers a bear market in session when multiple broad market indices have a downturn of 20% or more in value lasting for at least 2 months. A bull market is a term denoting a period of price increases, while a bear market denotes a period of declines. Like most other stock market indices, the Dow undergoes periods of general increase and general declines or stagnation. Since first closing at 62.76 on February 16, 1885, the Dow Jones Industrial Average has increased, despite several periods of decline. This article is a summary of the closing milestones of the Dow Jones Industrial Average, a United States stock market index. ![]()
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