The Dow Jones Industrial Average lost 2,997 points on 16 March 2020 during the COVID-19 market crash.
The fall was the Dow’s largest point decline at that time and represented about 12.9% of its value. Investors were reacting to the rapidly spreading COVID-19 pandemic, travel restrictions, economic shutdowns, and extreme uncertainty about corporate earnings and global growth.
The decline came during a turbulent month. U.S. exchanges triggered circuit breakers several times in March 2020, while oil-price disputes and the collapse of demand added pressure to markets. The S&P 500 and Nasdaq Composite also experienced major losses.
A point loss and a percentage loss are different measurements. The 2,997-point figure describes the Dow’s change in index points, while the approximately 12.9% figure makes the day easier to compare with earlier crashes such as Black Monday in 1987.