Down 40% from the peak in just over a year ...
Lovely I tell ya, just f'n lovely.
Try to keep things in perspective: IIRC, during the last bear market (2000 - 2003), the S & P 500 declined something like 50%, the DJIA declined about 44%, and the NASDAQ lost more than 70%. The big difference is that the declines during the 2002-2003 bear market occurred over a two to three year period whereas about half of the current 40% decline has occurred over the last two weeks. Nevertheless, if the market bottoms at 7000, then we are no worse off than in 2000-2003, except that we got to the bottom a lot faster.