Global benchmark index drop confirms bear market

Stock indexes worldwide stumbled on Thursday on fears over the health of the global economy, with a global equity benchmark index closing the day more than 20 percent below its record high last May, confirming global stocks are in a bear market. MSCI's all-country world equity index, which tracks shares in 45 nations, was last down 4.73 points, or 1.32 percent, to 353.35.