While the S&P; 500 would still need to drop another 4% to 1,090.89 in order to officially enter bear market territory, global equities led by weakness in Europe and Asia now find themselves in an official bear market.  The Bloomberg World Index, which is a capitalization weighted index of all equities tracked by Bloomberg, is down nearly 4% today, and it is down 21% from its closing high on May 2nd.  The threshold we’re using here for a bear market is a 20% decline that was preceded by at least a 20% rally.
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