Breaking the 20% Threshold
Standard & Poor's Investment Policy Committee (IPC) regards a 20% decline in price from the peak of the bull market to be the start of a bear market. We have had nine bear markets since 1956. They have varied in magnitude from the decline of 20% for the market in 1990 to the 48.2% from 1973 to 1974 and the 49.1% from 2000 to 2002.
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