Bear Market

A sustained decline of 20% or more from a recent high in a broad market index, typically accompanied by widespread pessimism and deteriorating economic fundamentals. The origin of the term likely comes from the way a bear attacks -- swiping downward with its paws. The average bear market since World War II has lasted about 14 months with an average decline of roughly 33%, though the 2020 COVID crash compressed the entire cycle into just 33 days.