The S&P 500 Fell 2% or More on 85 Days From 2017 to 2025 and Still More Than Tripled
NEW YORK, Nov. 5, 2026 /CNW/ -- USA News Group News Commentary - U.S. stocks fell sharply in Thursday morning trading. As of 11:07 a.m. ET, the S&P 500 was down 269.55 points, or 3.51%, at 7,419.07, the Nasdaq Composite was down 1,349.80 points, or 5.24%, at 24,386.72, and the Dow Jones Industrial Average was down 1,305.61 points, or 2.45%, at 52,050.51. A session like this is a single tree. The forest is the longer record, and that record, told in the S&P 500's own daily closes and in dividend streaks that run back decades, gives today's move a wider frame. Active Companies from around the markets with current developments this week include: The Procter & Gamble Company (NYSE: PG), The Coca-Cola Company (NYSE: KO), Illinois Tool Works Inc. (NYSE: ITW), Emerson Electric Co. (NYSE: EMR), and ExxonMobil Holdings Corporation (NYSE: XOM).
Key Takeaways
- Today's move: As of 11:07 a.m. ET, the S&P 500 was down 3.51%, the Nasdaq Composite was down 5.24% and the Dow was down 2.45%.
- Where the indexes still stand: Even after today's decline, the S&P 500 stood about 8.4% above its 2025 close and about 9.2% above its level one year ago, and both the S&P 500 and the Dow remained above their 200-day averages.
- Pullbacks are part of the record: From 2017 through 2025, the S&P 500 logged 85 sessions with declines of 2% or more, about nine a year on average, and seven of those nine years still finished higher.
- A recent example: In 2025, the index fell 18.9% from its February high to its April low, closed above that high again by late June and ended the year up 16.4%.
- Long dividend records: Four of the five companies below cite dividend increase streaks of 70, 64, 63 and 44 consecutive years in their own releases, and the fifth declared a 7% dividend increase with its fiscal 2026 results on Nov. 4.
Where the Indexes Still Stand
Set against the calendar, today's numbers look different. Based on daily closing prices, the S&P 500 finished 2025 at 6,845.50, so at 11:07 a.m. ET today it was still about 8.4% higher for the year. It was about 9.2% above its close of one year ago, on Nov. 5, 2025. The Dow was about 8.3% above its 2025 close, and the Nasdaq Composite, the hardest hit of the three today, was still about 4.9% higher for the year.
The S&P 500 was about 1.4% above its 200-day average and the Dow about 2.8% above its own, measured on daily closes through Nov. 4, while the Nasdaq Composite had slipped below its 200-day average. The S&P 500 was about 5.1% below its record close of 7,818.93, set on Oct. 6, 2026.
Pullbacks Are Part of the Record
Based on daily closing prices, the S&P 500 recorded 85 sessions with declines of 2% or more across the nine full calendar years from 2017 through 2025, an average of about nine a year. Every one of those nine years also included a pullback from a high, and in five of them (2018, 2020, 2022, 2023 and 2025) the decline reached 10% or more. Seven of the nine years still ended higher, including three of the five years with a 10% decline. Over the full stretch, the index went from 2,238.83 at the end of 2016 to 6,845.50 at the end of 2025, more than tripling.
The most recent example is fresh. The S&P 500 closed at 6,144.15 on Feb. 19, 2025, fell to 4,982.77 by April 8, a decline of 18.9%, and closed back above its February level on June 27, 2025. It finished 2025 up 16.4%. Earlier this year, the index fell about 9.1% from its Jan. 27 close of 6,978.60 to its March 30 close of 6,343.72, before going on to its October record. None of that history says what happens next, but it does show how often the market has absorbed sessions like this one in the past.
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Dividend Records Measured in Decades
The Procter & Gamble Company (NYSE: PG) reported first quarter fiscal year 2027 net sales of $23.3 billion on Oct. 22, an increase of four percent, with organic sales also up four percent. The company returned $3.9 billion of cash to shareowners through dividends and share repurchases. In April, P&G said it has been paying a dividend for 136 consecutive years and has increased it for 70 consecutive years.
"While we expect there will continue to be geopolitical and economic challenges, this strong start keeps us on track to deliver within our guidance ranges for organic sales growth, core EPS growth and free cash flow productivity for the fiscal year," said Shailesh Jejurikar, Chairman of the Board, President and Chief Executive Officer.
The Coca-Cola Company (NYSE: KO) reported third quarter 2026 results on Oct. 27, with net revenues up 7% to $13.4 billion, global unit case volume up 5% and comparable EPS (non-GAAP) up 11% to $0.91. The company raised its full year guidance for comparable EPS (non-GAAP) to at least 11% growth, from 9% to 10% previously. In February, its board approved the company's 64th consecutive annual dividend increase.
"Our results this quarter demonstrate our system's sustained momentum, giving us confidence in our updated full year guidance," said Henrique Braun, CEO of The Coca-Cola Company.
Illinois Tool Works Inc. (NYSE: ITW) reported third quarter 2026 results on Oct. 27, with revenue of $4.24 billion, up 4%, record operating income of $1.18 billion, up 6%, and GAAP EPS of $3.00, up 7%. It raised full year 2026 GAAP EPS guidance by $0.05 at the midpoint, to a narrowed range of $11.45 to $11.55 per share. During the quarter, ITW repurchased $187 million of its own shares and raised its dividend 7 percent, which the company said marks the 63rd consecutive year of dividend increases.
"We entered the fourth quarter with strong operational momentum and are raising our EPS guidance for the year," said Christopher A. O'Herlihy, President and Chief Executive Officer.
Fresh Results From Industry and Energy
Emerson Electric Co. (NYSE: EMR) reported fourth quarter and full year 2026 results on Nov. 4 for the fiscal year ended September 30, 2026, and declared a 7% quarterly cash dividend increase to $0.595 per share. Full year net sales rose 5% to $18,982 million, adjusted earnings per share rose 10% to $6.59 and free cash flow rose 9% to $3,535 million.
"Emerson capped a strong 2026 with fourth quarter sales and profitability exceeding expectations," said Emerson President and Chief Executive Officer Lal Karsanbhai.
ExxonMobil Holdings Corporation (NYSE: XOM) reported third-quarter 2026 earnings of $15.4 billion, or $3.72 per share, on Oct. 30. Free cash flow was $19.1 billion, and shareholder distributions totaled $9.4 billion, including $4.3 billion of dividends. The company said it reached 44 consecutive years of increases in annual dividends per share and announced 2027 share repurchases of $20 billion.
"In the third quarter, we continued to rise to the challenge of meeting global energy needs, drawing on unmatched scale, integration, and technical capabilities," said Darren Woods, ExxonMobil chairman and chief executive officer.
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Today's decline is a real one. The longer record, from the S&P 500's own daily closes to dividend streaks that stretch across decades, is the forest behind it. Readers who want to learn how to read both the news and the chart can get the free Stock Preachers guide at usanewsgroup.com/.
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