Was October 23, 2026 a bear market?
NO
No — the S&P 500 closed at 7,663.43, roughly 1% off its record, far from bear-market territory.
Why
- Bear market means a 20% drop; S&P 500 is nowhere near
- Philadelphia Semiconductor Index down 26% from June peak
- About 60% of S&P 500 stocks are 20%+ below their highs