S&P 500 Tumbles Into Bear Market—Here’s What You Need to Know

A trader works on the floor of the New York Stock Exchange (NYSE) on June 10, 2022. The S&P 500 has dropped by nearly 22 percent year to date. Spencer Platt/Getty Images

Less than a month after the S&P 500 temporarily slipped into bearish territory, the benchmark stock market index officially fell into a bear market at the closing bell on June 13.

Year-to-date, the S&P 500, which includes Apple, Berkshire Hathaway, and Tesla, has tumbled by nearly 22 percent. The index now joins the tech-heavy Nasdaq Composite Index in a bear market. The Nasdaq has plummeted 31 percent this year.