9 bear markets and the events that caused them
Dow decline: 36.1%
Cause: Rising interest rates
One of the greatest bull markets of all time was born in the wake of the 1982 bear market, buoyed by falling interest rates and Reagan-era tax cuts. Inflation jitters sent the bellwether 10-year Treasury note yield to 10.1% in October 1987 from 7% in January, sparking a flight to safety. The Dow plunged 22.6% on Oct. 19, 1987, still the sharpest one-day drop in history. (An equivalent drop today would take the Dow down nearly 5,000 points.)