At least 42 countries worldwide have stock markets in BEAR MARKET territory. 🇵🇹 Portugal, PSI: −37.9% 🇸🇰Slovakia, SAX: −37.3% 🇹🇭 Thailand, SET: −20.9% 🇺🇦 Ukraine, PFTS: −64.5% 🇷🇺 Russia, MOEX: −42.6% 🇻🇳 Vietnam, HNX: −48.0% 🇹🇼 Taiwan, TAIEX: −20.5% 🇰🇪 Kenya, NSE 20: −33.3% 🇴🇲Oman, MSX 30: −40.2% 🇱🇧 Lebanon, BLOM: −40.6% 🇧🇷 Brazil, Ibovespa: −20.8% 🇱🇻 Latvia, OMX Riga: −31.5% 🇰🇭 Cambodia, CSX: −30.2% 🇷🇸 Serbia, BELEX15: −58.0% 🇯🇵 Japan, Nikkei 225: −21.1% 🇹🇷 Turkey, BIST 100: −25.6% 🇵🇭 Philippines, PSEi: −36.5% 🇧🇭 Bahrain, All Share: −37.5% 🇸🇦 Saudi Arabia, TASI: −51.9% 🇯🇲 Jamaica, JSE Main: −27.3% 🇶🇦 Qatar, QE General: −32.6% 🇱🇺 Luxembourg, LuxX: −30.0% 🇧🇩 Bangladesh, DSEX: −26.5% 🇵🇸 Palestine, Al-Quds: −48.5% 🇰🇷 South Korea, KOSPI: −46.1% 🇯🇴 Jordan, ASE General: −23.6% 🇨🇾 Cyprus, CSE General: −94.4% 🇲🇲 Myanmar, MYANPIX: −34.8% 🇲🇪 Montenegro, MONEX: −60.1% 🇭🇰 Hong Kong, Hang Seng: −26.9% 🇦🇷 Argentina, MSCI Merval: −28.7% 🇻🇪 Venezuela, Caracas IBC: −20.5% 🇬🇷 Greece, Athens General: −60.4% 🇲🇹 Malta, MSE Equity Price: −35.3% 🇨🇳 China, Shanghai Composite: −40.4% 🇮🇩 Indonesia, Jakarta Composite: −45.2% 🇮🇸 Iceland, OMX Iceland All-Share: −76.3% 🇫🇮 Finland, OMX Helsinki All-Share: −29.8% 🇩🇰 Denmark, OMX Copenhagen 20: −44.7% 🇧🇦 Bosnia and Herzegovina, SASX-10: −75.2% 🇧🇧 Barbados, BSE Composite: at least −34.5% 🇦🇪 UAE, Dubai Financial Market General: −28.8% 🇹🇹 Trinidad and Tobago, TTSE Composite: −34.5% Source: Coin Bureau. It seems like they are calculating it from the top to the current level. So, some countries might go back in time because they have not made a new high for many years.