After another rough day for the markets, the Dow Jones Industrial Average has officially entered a bear market, defined as a drop of 20 percent from recent highs. The S&P and the Nasdaq are still hanging on, just barely out of bear territory.
The Dow is currently off 20.3 percent from its February 12 record, after falling by 5.9 percent yesterday. The S&P 500 and the Nasdaq are both down 19 percent from their February 19 peaks.
How long do we expect the markets to be down? On average, a bear market for the Dow lasts 206 trading days, according to data from Dow Jones Market Data. The average bear period for the S&P 500 is about 146 days.