Stock Markets in 27 Countries Enter Bear Territory
A check of major stock indices found 27 countries with markets at least 20% below their record highs, while the United States is not among them.
Updated on Nov. 6, 2026 in Stock Markets
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BeInCrypto checked stock market indices against their record highs and found 27 countries in bear territory, despite a viral list on X claiming 42. The Nikkei 225 fell 6% on Friday, while South Korea's KOSPI dropped below 5,000 and triggered a 20-minute trading halt.
Why it matters
The declines reflect a sharp selloff in technology-linked markets, with the Nasdaq Composite falling 5.52% on Thursday amid investor fears over the AI data center buildout. Because Samsung Electronics and SK Hynix make up about half of South Korea's KOSPI index, weakness in the chip sector has weighed heavily on that market.
BeInCrypto compared each index with its record high, finding 27 markets at least 20% lower, with only seven having set their peak this year. The Nikkei 225 closed Friday at 57,434.77, while the Nasdaq Composite closed at 24,315, about 12% below its October 6 record.
The players
Nasdaq Composite
A stock market index heavily weighted toward technology and growth companies, listed on the Nasdaq exchange in the United States.
Nikkei 225
Japan's benchmark stock index tracking 225 major companies listed on the Tokyo Stock Exchange.
KOSPI
South Korea's main stock market index, heavily concentrated in large technology firms such as Samsung Electronics.
The details
BeInCrypto checked each index against its record high to determine bear-market status. Eleven of the 27 markets remain below records set between 1999 and 2008, and the U.S. is not among the markets in bear territory.
Timeline
October 6: Nasdaq Composite set its record high.
June 22: Nikkei 225 set its record high.
Thursday: Nasdaq Composite fell 5.52% amid AI buildout fears.
Friday: Nikkei 225 fell 6% and KOSPI dropped below 5,000.
Market Dynamics
The 20% decline from peak is the conventional bear-market threshold, and by that measure 27 national indices now qualify while the S&P 500 would need to fall roughly another 15% to join them. A further 9% drop in the Nasdaq would cross the same bear-market line.
Retail and institutional investors holding broad international index funds have seen the 20% bear-market threshold crossed in many of these markets. Portfolio allocations heavily weighted to technology and chip stocks face the most direct exposure to the current declines.
The takeaway
Global index declines are not uniform, and the United States is not among the 27 markets in bear territory, so international exposure can produce very different outcomes from domestic holdings. Investors should check how much of their portfolio is concentrated in technology and semiconductor stocks.
Further reading
For broader context on how these moves are tracked, see the Stock Markets section.
Source note: This article includes information reported by BeInCrypto.
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