And the S&P 500 rose or fell by at least 1% on twice as many days in 2020 than it did, on average, since 1950. The Dow had several day-to-day swings of about 2,000 points. Trading became volatile, especially in the early weeks of the pandemic, as investors scrambled amid an increasingly grim economic outlook. The dire economic situation weighed heavily on almost any company that relied on direct consumer spending or a physical presence, including airlines, restaurants, hotels and mall-based retailers. People shifted to working, shopping and doing pretty much everything else from home. Businesses shut down in the face of the virus threat and tighter government restrictions. The S&P 500 fell 8.4% in February, then plunged 12.5% in March as the pandemic essentially froze the global economy. The virus pandemic shocked markets early in the year. вЂњWe came into the year expecting slow growth and it turned out to be the fastest bear market recovery in history,вЂќ said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. economy and corporate profits will bounce back in 2021 now that the distribution of COVID-19 vaccines is under way. The marketвЂ™s milestone-setting finish follows a mostly upward grind for stocks in recent weeks, fueled by cautious optimism that the U.S. The Dow Jones Industrial Average gained 7.2%, with Apple and Microsoft leading the way. The Nasdaq composite, powered by high-flying Big Tech stocks, soared 43.6%. The benchmark S&P 500 index finished with a gain of 16.3% for the year, or a total return of about 18%, including dividends. Wall Street closed out a tumultuous year for stocks with more record highs Thursday, a fitting coda to the marketвЂ™s stunning comeback from its historic plunge in the early weeks of the coronavirus pandemic. Watch Video: Trump congratulates country on historic Dow rally

2019 index returns