<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 820 376" width="820" height="376" role="img" aria-labelledby="t d" font-family="'Manrope', ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif">
  <title id="t">A stock bear market is a fall of 20% or more, driven by fear</title>
  <desc id="d">A stock bear market is commonly defined as a fall of 20 percent or more from a recent high, sustained and driven by fear. The equity crowd panics fast, and a bear market bottoms at capitulation, when the last sellers give up.</desc>
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  <text x="40" y="52" font-size="26" font-weight="800" fill="#0F172A">A Bear Market: A 20% Or Deeper Fall</text>
  <text x="40" y="80" font-size="15" fill="#5A6578">Sustained and driven by fear; the equity crowd panics fast</text>

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  <line x1="90" y1="150" x2="760" y2="150" stroke="#94A3B8" stroke-width="1.2" stroke-dasharray="5 5"/>
  <text x="96" y="142" font-size="11" fill="#94A3B8">recent high</text>
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  <text x="764" y="210" font-family="'JetBrains Mono', ui-monospace, monospace" font-size="11" font-weight="700" fill="#DC2626" text-anchor="end">-20%</text>

  <path d="M110,152 C220,165 300,196 400,238 C500,278 590,300 700,306" fill="none" stroke="#DC2626" stroke-width="3"/>
  <circle cx="700" cy="306" r="6" fill="#B91C1C"/><text x="700" y="296" font-size="12" font-weight="700" fill="#B91C1C" text-anchor="middle">capitulation</text>

  <text x="410" y="350" font-size="13" fill="#5A6578" text-anchor="middle">A drop past -20% marks the bear; it bottoms at capitulation, when the last sellers give up.</text>
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