Bear market

Prior to the default of Lehman Brothers, the market experienced a period of growth - a bull market. After the technical default of Lehman Brothers, the market crashed and rallied. Then, after a long decline in prices, the recovery of the economy and recovery in the exchange markets began again.

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Bear market prices typically drop by at least 20% from their immediate peaks, and the process takes longer than two months.

A bear market has three phases: start, rally, and end. A fall is preceded by a rise in prices – a bull market. After some time, the speed of economic development and the expectations of investors do not converge, for example, asset prices are higher than their fair value. Then the rally comes: asset prices bounce up and down, and it is not clear whether the market has bottomed out or whether the crisis is ahead. At the end of the bear market, price spikes end and asset prices begin to decline steadily. This can go on for months or even years.
However, then the economy recovers, investors begin to invest in cheaper assets again. A new bull market is coming.