The following chart plots the annual returns of the FTSE All-Share Index since 1900.
[NB. The values for 1973 and 1974 were respectively -55% and 136%, and have been truncated in the chart to make the scale more useful.]
The Index is currently 2.3% below its starting value for the year. If the Index ends the year in negative territory it will be the second successive year the UK equity market will have fallen.
As can be seen from the chart, this is a fairly rare occurrence. The previous time the market fell in two successive years was during the aftermath of the internet bubble, and before that in 1972-73.
The following chart plots the frequency distribution of the annual returns of the FTSE All-Share Index since 1900. For example, the annual return for the Index has been in the range 5%-10% for 15 years since 1900.