During the 2020 COVID-19 market crash, on which date did the S&P 500 fall 12%?

The S&P 500 fell 12% on March 16, 2020, during the 2020 COVID-19 market crash.

The decline came as the coronavirus pandemic caused widespread business closures, travel restrictions, supply disruptions, and uncertainty about future earnings. The S&P 500 lost 12.0% that day, its largest one-day percentage fall since Black Monday in 1987.

March 16 was one of several exceptionally volatile sessions. The index also fell sharply on March 9 and March 12, while automatic market-wide trading halts were triggered as prices moved rapidly. The Federal Reserve and other central banks introduced emergency measures to support financial markets.

The crash was unusually rapid. The S&P 500 entered a bear market in March and reached its closing low for the episode on March 23, 2020, before a powerful recovery began. The market reaction preceded the full economic effects of the pandemic.