It's less severe than a bear market.

它没有熊市那么严重。

Now, a bear market is different from a correction.

熊市不同于回调。

A bear market doesn't always signal a severe economic downturn.

熊市并不总是预示着严重的经济衰退。

The current bear market has lasted over 160 days.

目前的熊市已经持续了160多天。

Now, some analysts are discussing a possible bear market.

现在, 一些分析人士正在讨论可能的熊市。

Bear markets are when investors are pessimistic, selling increases and stock prices fall.

而当投资者悲观，抛售增加，股票价格下跌时，熊市出现。

So we talk about being in a bear market.

所以我们说的是熊市。

It's less severe than a bear market. That's when stocks decline 20 percent.

这没有熊市那样严重。股市下跌20%时称为熊市。

Two steroid hormones—testosterone and cortisol—come out in force during the excesses of bull and bear markets.

强劲的牛市和熊市出现时, 　两类固醇激素，就是睾酮和皮质醇会剧增。

However, we can only call it a bear market when the index drops 20% or more.

但是，只有在该指数下跌20%以上才能说股市进入熊市。