10% (45,000) is considered a "correction".
20% (down to 40,000) is a Bear Market and
"typically occur once every 5–7 years, with major historical examples including 1929 (Great Depression), 1987 ("Black Monday"), 2000–2002 (Dot-com bubble), 2008 (Financial Crisis), 2020 (COVID-19), and 2022 (inflation/rate hikes). These declines are often triggered by economic recessions, geopolitical crises, or rapid asset bubble bursts."