The US stock market has faced its worst week in five years, with the Nasdaq falling into a technical Bear Market.

PANews, April 5 - According to reports from Caixin, the US stock market has faced its worst week in five years, with the Nasdaq entering a technical Bear Market. On Friday, Eastern Time, the three major US stock indices fell sharply, with the S&P 500 index dropping 5.97%, marking the largest single-day decline since March 2020; it fell 9.08% this week, recording the largest weekly decline since March 2020. The Nasdaq fell 5.82%, down more than 20% from its historic closing record, confirming entry into the technical Bear Market range. The Dow Jones fell 5.50%, closing more than 10% below its historic closing record, confirming entry into the correction range.