How long do stock market crashes last? Duration across past crashes
The essentials in 30 seconds
- A stock market crash falls for 33 days to about 34 months, and the recovery runs on a separate clock.
- The S&P 500 fell 34% in 33 days in 2020, and the Dow fell 89% over about 34 months from 1929 to 1932.
- The average bear market lasted 13 months, with an average loss of 30% (1926 to 2014, Morningstar).
- The Dow regained its 1929 peak in November 1954.
- This page is general information, not investment advice.
How long a stock market crash lasts depends on which clock you read: the fall, or the climb back. This page, current as of October 2026, compares 5 episodes from 1929 to 2020 with dated figures from the Federal Reserve and Wikipedia. It belongs to the guide on when the stock market crashes, and it opens 2 detailed pages on recovery and on size.
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How long does a stock market crash take to fall?
The fall phase of a stock market crash ranges from days to years. The Dow fell for about 34 months, from 3 September 1929 to 8 July 1932 (Federal Reserve History, Wikipedia). The 1973 to 1974 decline lasted 694 days, from 11 January 1973 to 6 December 1974. The 2007 to 2009 fall lasted 17 months, from the Dow peak of 9 October 2007 to the low of 6 March 2009 (Wikipedia).
The dot-com decline ran from the Nasdaq Composite peak of 10 March 2000 to 9 October 2002, about 31 months, when the NASDAQ-100 stood 78% below its peak (Wikipedia). A spread from 33 days to 34 months means that a single average hides the useful information. Each crash type has its own clock, and the next sections show why.
Which stock market crash fell fastest?
The 2020 crash holds the quickest fall in this set. The S&P 500 went from 3,386 on 19 February 2020 to 2,237 on 23 March 2020, a drop of 34% in 33 days (Wikipedia). A cause that hit business activity everywhere at once compressed the whole decline into about 5 weeks, and share prices then reversed within months.
Black Monday shows the fastest single day. The Dow fell 22.6% on 19 October 1987 and the S&P 500 fell 20.47% (Wikipedia). The S&P 500 then reached a low of 230.30 in November 1987, 31.6% below its high. Speed concentrates the loss in a short window, which leaves little time to react during the fall itself.
Which stock market crash lasted longest?
The 1929 to 1932 crash lasted longest in this set, at about 34 months, and ended 89% below its peak: the Dow closed at 381.17 on 3 September 1929 and at 41.22 on 8 July 1932 (Federal Reserve History). The essay adds that problems in another part of the financial system turned a likely short recession into a deep depression.
The 1973 to 1974 decline took 23 months and combined falling shares with US inflation of 11.05% in 1974 (FRED). Both long crashes met a second shock, from the financial system in 1929 and from prices in 1974. A reader who spots a second shock can expect a longer clock than a single shock suggests.
How long does the recovery after a stock market crash take?
A fall and its recovery run on separate clocks. After 1987 the S&P 500 regained its pre-crash high of 336.77 on 26 July 1989, in under 2 years (Wikipedia). After 1929 the Dow needed until November 1954 (Federal Reserve History). After 2020 the Nasdaq, the S&P 500, and the Dow regained their highs in June, August, and November (Wikipedia).
Recoveries range from months to about 25 years in this set. The page on stock market recovery after a crash lines up each rebound, shows what nominal and real recovery mean, and explains why dividends and inflation change the date. Planning around a range of recovery times holds up better than planning around one date.
Does a longer stock market crash fall further?
In 3 cases the longer fall went deeper. The 2020 fall of 34% lasted 33 days, the 2007 to 2009 fall of 54% for the Dow lasted 17 months, and the 1929 to 1932 fall of 89% lasted about 34 months (Wikipedia, Federal Reserve History). Time gives more room for a second shock, and a second shock adds to the depth.
A fuller comparison of peak-to-trough numbers sits in the page on how much stocks fall in a crash, which also covers the 1987 and 2000 to 2002 episodes. Duration and depth together describe the experience: a deep and slow crash tests patience and cash needs, while a deep and fast crash tests the nerve to follow a plan.
What is the average length of a stock market decline?
Morningstar data cited by Wikipedia gives an average bear market duration of 13 months and an average cumulative loss of 30% for 1926 to 2014. Crashes sit at the deep end of that range: the 2007 to 2009 fall lasted 17 months and the 2020 fall lasted 33 days. The average is a reference point, and each episode departs from it in time or in depth.
Ranges give more information than a single average. In this set the fall phase runs from 33 days to about 34 months, and the depth runs from 34% to 89%. A plan that holds up across those ranges works whichever crash arrives. This page is general information, not investment advice.
How can you use crash durations in a stock market plan?
Durations turn into planning numbers for cash needs. If you hold cash for expenses equal to the longest fall in this set, 34 months, a decline of that length leaves your investments untouched. Sizing the reserve is a personal choice that depends on income and obligations, and the range of durations gives you a reasoned starting point.
The EQOS Asia method page explains how a φ(S) score reads the structure of a system across 9 dimensions, and the Λ simulator estimates a score for your case in 10 minutes (EQOS Asia 2008 back-test, 2026). The contact page books a 30-minute call. The score frames risk and leaves the date of a fall open.
See also in this guide
Frequently asked questions
How long does a stock market crash last?
The fall lasts from 33 days to about 34 months in the 5 episodes compared here. The 2020 fall took 33 days, the 2007 to 2009 fall 17 months, and the 1929 to 1932 fall about 34 months. The recovery then runs on a separate clock, as of October 2026.
How long did the 2008 stock market crash last?
The Dow fell for 17 months, from its peak of 9 October 2007 to its low of 6 March 2009, a drop of about 54% (Wikipedia). The recovery is a separate question that depends on whether you measure the Dow, the S&P 500, or a balance with dividends and inflation.
How fast was the 2020 stock market crash?
The S&P 500 fell from 3,386 on 19 February 2020 to 2,237 on 23 March 2020, a drop of 34% in 33 days (Wikipedia). The Nasdaq, the S&P 500, and the Dow then regained their pre-crash highs in June, August, and November 2020.
How long is an average bear market?
Morningstar data cited by Wikipedia gives an average duration of 13 months and an average cumulative loss of 30% for 1926 to 2014. Crashes sit at the deep end of that range, so a plan works best when it covers both the average and the longest cases.
Test your knowledge
1. How long did the 2020 fall of the S&P 500 last?
- 33 days
- 17 months
- 34 months
Show the answer
33 days.
2. How long did the Dow fall from September 1929 to July 1932?
- 5 months
- About 34 months
- 10 years
Show the answer
About 34 months.
3. What average bear market duration does the cited Morningstar data give?
- 3 months
- 7 months
- 13 months
Show the answer
13 months.
4. When did the S&P 500 regain its 1987 high?
- 26 July 1989
- November 1954
- August 2020
Show the answer
26 July 1989.
5. Which phase of a crash runs on a separate clock from the fall?
- The opening bell
- The recovery
- The dividend date
Show the answer
The recovery.
About the author
Stéphane Jambu
President, EQOS Forecast Asia
Stéphane Jambu leads EQOS Forecast Asia and works as a consultant in e-commerce, search visibility, and AI. LinkedIn profile
Sources: EQOS Asia page what happens when the stock market crashes (eqos-asia.com/stock-market-crash/what-happens-when-the-stock-market-crashes.html), EQOS Asia 2008 back-test (eqos-asia.com/case-studies/crise-2008.html), method page (eqos-asia.com/method.html), simulator (eqos-asia.com/simulator.html) and contact page (eqos-asia.com/contact.html), federalreservehistory.org/essays/stock-market-crash-of-1929, fred.stlouisfed.org/data/FPCPITOTLZGUSA.txt, en.wikipedia.org/wiki/Black_Monday_(1987), en.wikipedia.org/wiki/Dot-com_bubble, en.wikipedia.org/wiki/Stock_market_crash, en.wikipedia.org/wiki/Bear_market, en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets, en.wikipedia.org/wiki/1973%E2%80%931974_stock_market_crash, en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008, consulted on 22 October 2026. Page updated on 22 October 2026.