PANews reported on April 7 that according to Jinshi, futures linked to the S&P 500 index fell further on Monday, falling more than 20% from its all-time high, and the most watched benchmark index in the US stock market is about to confirm a bear market. Dow Jones Industrial Average futures are also down 20% from their all-time highs, while the Nasdaq index was confirmed to be in a bear market last week as concerns about a recession hit global stock markets after Trump's comprehensive tariffs. According to a widely used definition, if an index closes more than 20% below its historical closing high, the index is confirmed to have entered a bear market. The last time the S&P 500 confirmed that it was in a bear market was in June 2022, when investors were concerned about whether the Federal Reserve could curb post-epidemic inflation without triggering a recession. Bear markets usually lead to recessions and last until investors believe that the worst of the recession is over. Data from investment research firm CFRA shows that nine of the 12 bear markets since 1948 have been accompanied by recessions.