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The bottom there is 10,924 meters (35,840 feet) below sea level. If Mount Everest, the highest mountain on Earth, were placed at this location it would be covered by over one mile of water.
At the top of Mount Everest (over 29,000 feet), only 30% of the atmosphere lies above you, leaving an air pressure of only 4.4 pounds per square inch. Some people think air does not have weight since a parcel of air (say, air in a thin, lightweight balloon) just 'floats' around.