The FTSE 100 has fallen 20.13pc since it hit its highest level in intraday trading on April 27 2015 of 7,122.74.
Today, it reached an intraday low of 5,688.92. Bear-market territory is a market condition in which prices of securities fall by 20pc or more from a recent high.
This is not to be confused with official correction territory, which is a reverse movement (usually negative) of at least 10pc to adjust for an overvaluation.
In April 2015 the FTSE 100 hit a high of 7,103.98. It needs to fall to 5,683 to officially enter bear market territory.
Almost £50bn has been wiped off Britain's leading companies today - with the FTSE off by more than 3pc.
13:25
US stock index futures sink
Wall Street is also on track for sharp losses when markets open at 2.30pm.
The Dow Jones industrial average index is set fall 2pc, while the S&P and the Nasdaq are poised to fall by around 2pc also.
Don't know if you've got the very bottom there Skinny but looking at Dow right now you should be well in profit in the morning. Good trading
Interesting times. Whilst at work today I began to consider my positions. I have a couple of small cap stocks which have resisted the fall in the markets over the last 3 months and was thinking of chucking them to stick on well anything with a decent dividend yield. Did nothing - might have missed my chance. Might get another one. Still not sure what to do. lol.