S&P 500 Historic Drawdowns (Patreon)

Historically, the median 52-week drawdown for S&P 500 stocks can fluctuate between mild corrections (5-10%) and more severe bear markets (20% or more). An 18% drawdown is significant but falls short of the typical threshold for a full bear market (20%).

Mathematically an 18% drawdown suggests we could be nearing the lower end of a correction - could fall a bit further but most of the damage is done.