FYI: Nasdaq is about 2% from a bear market, and that would mark the end to its longest bull run in history.
Forget the Santa rally, the stock market is fending off one of its worst Decembers in recent memory, and now the Nasdaq is on the brink of a bear market. It’s a scenario that may unofficially commence the end of the longest equity market bull run, by some measures, in history.
As of Wednesday’s decline, the Nasdaq Composite Index COMP, -1.63% was 18.2% from its all-time high of 8,109.69 hit on Aug. 29. Wall Street’s widely accepted definition of a bear market is a drop of at least 20% from a recent peak, leaving the technology and internet-laden stock gauge a stone’s throw from bearish territory.
According to Dow Jones Market Data, the last time the Nasdaq entered a bear market was March 3, 2009, with it exiting that phase less than three weeks later.