Bear market, here we come. Bespoke Investment Group pointed out that one measure of the global stock market – the Bloomberg World Index – has fallen 21 per cent from its closing high on May 2, conforming to the popular definition of a bear market downturn.
The S&P 500 is still above the threshold, though: It would have to fall to 1,090.89 to enter bear market territory. With Thursday’s decline, it is currently sitting at about 1,136. Canada’s S&P/TSX composite index is also above the threshold, but only just: It has fallen 19 per cent from its high in April.