S&P 500: Consecutive Down Years Since 1928

Here is a summary of the seven times the S&P 500 saw consecutive annual declines in the index, including dividends:

1930:   -25%

1931:   -44%                1^st time

1932:   -9%                  2^nd time

1939:   -1%

1940:   -11%                3^rd time

1941:   -13%                4^th time 

1973:   -14%

1974:   -26%                5^th time

2000:   -9%

2001:   -12%                6^th time

2002:   -22%                7^th time

Source: Professor of Finance at the Stern School of Business at New York University, Aswath Damodaran; data series “Historical Returns on Stocks, Bonds and Bills: 1928-2022” updated January 2023: https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html