PANews reported on April 5 that according to Cailianshe, the U.S. stock market suffered its worst week in five years, and the Nasdaq fell into a technical bear market. On Friday, Eastern Time, the three major U.S. stock indexes closed sharply lower, with the S&P 500 index falling 5.97%, the largest single-day drop since March 2020; it closed down 9.08% this week, the largest single-week drop since March 2020. The Nasdaq fell 5.82%, more than 20% below its record high closing price, confirming that it has entered a technical bear market. The Dow fell 5.50%, closing more than 10% below its record high closing price, confirming that it has entered a correction range.