diff --git a/Lib/test/test_traceback.py b/Lib/test/test_traceback.py
index e4ae4ab..7567849 100644
--- a/Lib/test/test_traceback.py
+++ b/Lib/test/test_traceback.py
@@ -295,6 +295,10 @@
             raise SyntaxError('', ('', 0, 5, 'hello'))
         msg = self.get_report(e).splitlines()
         self.assertEqual(msg[-2], "        ^")
+        def e():
+            exec("x = 5 | 4 |")
+        msg = self.get_report(e).splitlines()
+        self.assertEqual(msg[-2], '              ^')
 
 
 class PyExcReportingTests(BaseExceptionReportingTests, unittest.TestCase):
diff --git a/Python/pythonrun.c b/Python/pythonrun.c
index 1b0a84b..33dd11b 100644
--- a/Python/pythonrun.c
+++ b/Python/pythonrun.c
@@ -1344,6 +1344,8 @@
 {
     char *nl;
     if (offset >= 0) {
+        if (offset > 0 && offset == strlen(text) && text[offset - 1] == '\n')
+            offset--;
         for (;;) {
             nl = strchr(text, '\n');
             if (nl == NULL || nl-text >= offset)
@@ -1363,7 +1365,7 @@
     if (offset == -1)
         return;
     PyFile_WriteString("    ", f);
-    while (--offset)
+    while (--offset > 0)
         PyFile_WriteString(" ", f);
     PyFile_WriteString("^\n", f);
 }