It's also given up almost all of its 2023 gains, being only 0.4% higher than it was at the end of 2022.
S&P 500 closes:
4797 - Jan 3, 2022 (all time high)
3856 - Today's (3/13) close, down 19.6% from all-time high
3838 - The 20% down line that is the definition of a bear market, easily remembered from the year 1938 when Neville Chamberlain declared in Munich, "peace for our time". Two 38's in a row is of course Munich Munich
3840 - 2022's closing value. Today's 3856 close is just 0.4% above that.
Just a note of reality -- one might think from the Dow Jones 6-month graph above that lately we've only had a minor downslide. Well, the Dow is very unrepresentative on the U.S. stocks that people collectively own, and is price-weighted which is beyond silly.
The S&P 500, on the other hand, is 75-85% of the total U.S. stock market by capitalization, is capitalization - weighted, and is very close to the performance of the Total U.S. Stock Market Index (which is the best indicator of the value of the U.S. stocks that people own), but the S&P 500 is much more popular and data on that with dividends goes back much further than that, so I end up defaulting to the S&P 500 and for consistency with my many other postings. Anyway, the performances of the S&P 500 and the total U.S. Stock Market are very close to each other).
(On the bear market -- that 20% down line (closing value) was first reached June 13, 2022 and we've been below the 20% line and above it a number of times since then. Officially we've been in a bear market and remain there until a new all-time high is reached. Well, I'm not sure there is an "official" definition of any of this, but a strong consensus from everything I read.)
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