The Nasdaq Composite Index entered its second bear market of the year Tuesday, closing at 10,426.19, below the 10,502.44 ceiling that would represent a 20% decline from its recent high on Aug. 15.

Year to date, the Nasdaq is down 33%.

The Nasdaq has not entered a bear market twice in a year since 2001, according to Dow Jones Market Data.

Investors will be keeping watch for another Nasdaq milestone: a decline below 10,000, a level at which the index has not been since June 2020.

Traders are bracing for more volatility this week, with the producer price index (PPI) being released Wednesday, followed by the consumer price index (CPI) Thursday and the beginning of the third-quarter earnings season on Friday.

Also Wednesday: the Federal Reserve will release its Federal Open Market Committee (FOMC) minutes at 2 p.m. EST.