The S&P 500 fell about 57% from its October 2007 peak to its March 2009 low during the global financial crisis.
The index reached a closing high of 1,565.15 on October 9, 2007, before the financial crisis intensified. It reached a closing low of 676.53 on March 9, 2009, a decline of roughly 56.8%. The fall reflected stress across banks, housing-related finance, industrial companies, and other parts of the economy.
The crisis was closely linked to the collapse of the U.S. housing bubble, losses on mortgage-related securities, and the failure or rescue of major financial institutions. Lehman Brothers filed for bankruptcy in September 2008, deepening global market panic.
The S&P 500 tracks large U.S. companies and is weighted by market capitalization. It is not the same as the Dow, which contains 30 companies, or the Nasdaq Composite, which has a heavier technology emphasis.