A mountain chart shows that since 1980, there have been 12 bear markets, or market declines of 20% or more, in global equities. The starting dates for these bear markets were November 1980, August 1987, January 1990, July 1998, March 2000, March 2002, November 2007, May 2011, May 2015, January 2018, February 2020, and November 2021.