Last week the Dow lost 1,655 points, or 6.8 percent. That was the Dow’s worst week of trading since October 2008 during the financial crisis. The S&P 500 also lost 7 percent for the week and is now down 17.8 percent from its record reached earlier in the year. Wall Street traditionally considers a drop of 20 percent or more from recent highs to be a bear market.. The Nasdaq Composite is now 22 percent below its record reached in August and is in a bear market.
December is typically a buoyant month for stocks. Yet both the Dow and S&P 500 are down more than 12 percent this month — on track for their worst December performances since the Great Depression in 1931.
Continue reading: Dow drops 150 points, S&P 500 on the cusp of a bear market