According to the people who decide which markets are bulls and which are bears, the S&P 500 and the DOW Jones Industrial Average are both bulls. The S&P 500 closed below its all-time record close on Monday for the first time in over a year. S&P Global needed to see a close below 3837 to officially declare a bear market. According to S&P Global, a 20% decline in the S&P 500 on a closing basis is all it takes to define a bear market. Since the S&P 500 hit an all-time high on January 3, this bear market has been going on for more than five months.
| Start date | End date | Start price | End price | Months | S&P 500 % change | Prior Bull mkt % gain |
|---|---|---|---|---|---|---|
| 9/7/1929 | 6/1/1932 | 31.92 | 4.40 | 32.8 | -86.2 | |
| 3/6/1937 | 4/29/1942 | 18.68 | 7.47 | 61.8 | -60 | 325 |
| 5/29/1946 | 6/14/1949 | 19.25 | 13.55 | 36.5 | -29.6 | 158 |
| 8/2/1956 | 10/22/1957 | 49.64 | 38.98 | 14.7 | -21.5 | 266 |
| 12/12/1961 | 6/27/1962 | 72.64 | 52.32 | 6.5 | -28 | 86 |
| 2/9/1966 | 10/7/1966 | 94.06 | 73.20 | 7.9 | -22.2 | 80 |
| 11/29/1968 | 5/26/1970 | 108.37 | 69.29 | 17.8 | -36.1 | 48 |
| 1/11/1973 | 10/3/1974 | 120.24 | 62.28 | 20.7 | -48.2 | 74 |
| 11/28/1980 | 8/12/1982 | 140.52 | 102.42 | 20.4 | -27.1 | 126 |
| 8/25/1987 | 12/4/1987 | 336.77 | 223.92 | 3.3 | -33.5 | 229 |
| 7/16/1990 | 10/11/1990 | 368.95 | 295.46 | 2.9 | -19.9 | 65 |
| 3/24/2000 | 10/9/2002 | 1527.46 | 776.76 | 30.5 | -49.1 | 417 |
| 10/9/2007 | 3/9/2009 | 1565.15 | 676.53 | 17 | -56.8 | 101 |
| 2/19/2020 | 3/23/2020 | 3386.15 | 2237.40 | 1.1 | -33.9 | 401 |
| 1/3/2022 | 6/13/2022 | 4796.56 | 3749.63 | 5.3 | -21.8 | 114 |
| AVERAGE | 18.6 | -38.2 | 177.8 |
The average bear market has lasted almost 19 months since the S&P 500 index began in the late 1920s. The average is only that The longest bear market was between 1937 and 1946, with the worst decline coming as the Great Depression began.
There are different causes of bear markets. The Fed tightened interest rates in response to galloping inflation and the first European land war since World War 2.
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The economic contraction that followed the start of Covid-19 caused the last bear market. The housing market collapsed as a result of the financial crisis. The bear market was caused by the bursting of the tech bubble. How do you define the end of a bear market? When the index goes to its lowest point, it goes up by 20%. It can only be known in retrospect.
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