> DJIA decline from peak to trough: 36%
> Unemployment: 5.9% (1971)
> Change in unemployment: 63.9% (1968-71)
> Change in GDP: 1.1% (1968-70)
> Consumer price index: 5.7% (1970)
Many consider the 1968-1970 bear market as one that actually lasted to 1982. Over the two year period listed, however, the Dow lost approximately 36% of its value. Unemployment, which was as low as 3.4% in 1968, reached 6.1% by the end of 1970. Between 1968 and 1970, the Dow fell from 906 points to 753.19.
> DJIA decline from peak to trough: 34%
> Unemployment: 6% (2003)
> Change in unemployment: 33.3% (2000-03)
> Change in GDP: 0.9% (2000-02)
> Consumer price index: 3.4% (2000)
The U.S. essentially had a decade-long bull market throughout the 1990s. As a result, stock values were largely inflated. This trend turned around in 2000. Many technology companies either went out of business or lost value. Wariness of the market was later compounded by the September 11 attacks. In September 2002, the Dow hit a four-year low. From peak to trough, the Dow lost 34% of its value.
> DJIA decline from peak to trough: 27%
> Unemployment: 7.7% (1976)
> Change in unemployment: -20.7% (1976-78)
> Change in GDP: 8.2% (1976-78)
> Consumer price index: 13.5% (1980)
The market dropped 27% from peak to trough during the 1976 bear market. A new peak was not reached until January 1981. Investors were hurt at a much greater level than the rest of the country during these years. Both employment and GDP per capita increased annually from 1976 through 1979. The rise in consumer prices ,which was driven by the rise in the price of oil prices, peaked around 1980, slowing economic activity.
Charles Stockdale and Douglas A. McIntyre