During the 2008 stock-market crash, the S&P 500 lost about 57% between its 2007 peak and 2009 low.
The S&P 500 closed at 1,565.15 on October 9, 2007, before the global financial crisis intensified. It later fell to 676.53 on March 9, 2009, a decline of approximately 57% from the peak. The index tracks large U.S. companies and is widely used as a benchmark for American equities.
The fall occurred amid the bursting of the U.S. housing bubble, the subprime mortgage crisis, failures and rescues of financial institutions, and severe economic contraction. The collapse of Lehman Brothers in September 2008 was a major escalation, but it was not the sole cause of the entire decline.
The S&P 500 bottomed in March 2009 and then began a long recovery. Percentage losses differed among indexes because they represent different companies and market sectors.