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Bloomberg Wealth: How to Be a ‘Genius’ in a Bear Market

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, May 31, 2022. The S&P 500 defied bear market status just over a week ago and is set to finish May roughly where it started.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, May 31, 2022. The S&P 500 defied bear market status just over a week ago and is set to finish May roughly where it started.Photographer: Michael Nagle/Bloomberg

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Well, here we are. This week the S&P 500 finally slid into a sustained bear market. The index closed Monday 20% below its peak, down to its lowest level since January 2021. Treasury yields surged and the dollar rose on fears about global trading. And Bitcoin? Oh boy. The cryptocurrency entered what strategists called its “deepest and darkest” phase, with prices hovering around lows they haven’t hit since 2020.