The bears roamed Wall Street last week, but the last lengthy bear market in stocks unfolded so long ago that a primer about such events may be in order.

A bear market is a decline in stock prices of at least 20% from their peak. Since the Great Depression, there have been 14 bear markets of varying lengths, with declines averaging 37%.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.