Well, it was down 20% at one point today (Saturday). CNBC says that a 20% decline is a bear market. All the other outlets have picked up on that, so that since “everybody” agrees it must be a fact. What CNBC says is the Law of Wall Street, or the LOWS.
Also note that when CNBC brings on the bears for interviews, it’s a bottom. They like to scare the shit out of people at the worst possible time. But when the market is making a top, nary a beary in sight.
