The MSCI All-Country World Index, which measures major developed and emerging markets, fell into a bear market Wednesday, with its decline from early last year now totaling more than 20 percent.
A plunge in U.S. stocks, which caused the to decline by more than 400 points at one point, pushed the global index into bear territory at midmorning during New York trading.
Japan fell into a bear market as well as the Nikkei 225 index dropped 3.7 percent Wednesday, bringing its total pullback to 22 percent from its high in June.
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Stock benchmarks for some countries including China, Russia and Saudi Arabia are down more than 40 percent from their highs.
Among the major U.S. indexes, the S&P 500 index is off by nearly 14 percent from its high in May, while the Nasdaq composite has fallen 16 percent. Other U.S. asset and sector benchmarks like the small-cap Russell 2000 index, S&P MidCap 400 and Dow transportation average are already down by more than 20 percent from their highs.
Here are all the major indexes around the world and where they stand in terms of bear market or correction territory.