CBA (ASX:CBA) share price history: What caused the biggest ups and downs?

A brief recent history of the Aussie bank share's price movements.

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The Commonwealth Bank of Australia (ASX: CBA) share price has charged 23.9% higher in 2021. Shares in Australia's largest bank are now up nearly 80% since the bottom of the March 2020 bear market.

As the ASX bank share approaches a new all-time high, let's take a look at some of the bank's biggest share price moves in recent times.

A girl looks through a microscope at money.

Image source: Getty Images

What has caused the major CBA share price moves?

Let's start with recent history. The coronavirus pandemic in early 2020 saw ASX 200 shares like CBA get smashed last year.

The CBA share price plummeted 36.6% lower in the space of about 6 weeks. At the time, with borders slamming shut and an unprecedented health crisis looming, investors were worried.

However, record government stimulus and a better than expected health response has helped propel the Aussie bank share back towards a new all-time high.

Prior to COVID-19, the CBA share price slid lower for about 6 months in the first half of 2018. The catalyst for this was the 2018 Financial Services Royal Commission established on 14 December 2017.

The Royal Commission examined various aspects of the Aussie financial services sector. There were numerous scandals and practices investigated by the commission which led many to believe further restrictions and sanctions would be imposed on the banks.

The CBA share price fell about 14% between January and June 2018. However, clearly, the Aussie bank share rebounded strongly to hit its current $103.75 level.

Investors would also likely remember the 2008 Global Financial Crisis (GFC). The GFC hit the broader economy, but banking and financial services were in particular strife.

There were some fairly shocking events unfolding in the financial services world. Those included the demise of Lehmann Brothers and Bear Stearns, and a near-collapse of Australia's own Macquarie Group Ltd (ASX: MQG).

Fears of an end to banking as we know it saw the CBA share price plummet more than 50% in the 2008 calendar year. Once again, the share price recovered in the decade that followed, in what was good news for shareholders.

Foolish takeaway

The CBA share price has had its fair share of ups and downs in recent times. Shares in the Aussie bank have been climbing higher in 2021 and are now just shy of a new record high.

Investors will be hoping for more of the good news and less of the past major events that have caused the bank share to slump lower.

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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