This market will resolve as YES if the S&P 500 index declines by more than 8% from its closing value on March 31, 2025, to its closing value on April 30, 2025, based on official data from a credible financial source (e.g., Yahoo Finance, Bloomberg, or the New York Stock Exchange). The percentage change will be calculated as follows:

- Starting value: S&P 500 closing value on March 31, 2025

- Ending value: S&P 500 closing value on April 30, 2025

- Percentage drop = [(Starting value - Ending value) / Starting value] × 100

If the calculated drop exceeds 8.00%, the market resolves YES. Otherwise, it resolves NO. If the exact closing values are disputed or unavailable, the resolution will rely on the consensus of major financial reporting outlets.