How many trading days did the 2020 COVID-19 bear market take to cut the S&P 500 by 20%?

The 2020 COVID-19 bear market took 16 trading days to cut the S&P 500 by 20%.

The S&P 500 entered bear-market territory on March 12, 2020, after financial markets reacted to the rapidly spreading COVID-19 pandemic, travel restrictions, business closures, and uncertainty about the economic outlook. The 20% decline was measured from the index’s February 19 record close.

This was an exceptionally rapid fall by historical standards. The Federal Reserve and other central banks introduced emergency measures, while governments announced fiscal support and companies adapted to a sudden disruption in demand and production.

The 2020 crash is often confused with the entire pandemic-era market cycle. The initial collapse was followed by a powerful recovery, and the S&P 500 reached a new record close by August 2020. The 16-trading-day figure refers specifically to the descent into bear-market territory.