The Dow Jones Industrial Average reached its 2020 closing low on March 23, 2020, during the COVID-19 stock-market crash.
The crash reflected the rapid global spread of COVID-19, travel restrictions, business shutdowns, and fear of a severe economic contraction. The Dow had entered a bear market in March after reaching a record close in February.
The index closed at 18,591.93 on March 23, its lowest closing level of the crash. It then rebounded sharply as governments announced fiscal support, central banks supplied liquidity, and investors responded to signs that emergency measures could stabilize markets.
The fall was exceptionally fast by historical standards. US exchanges triggered circuit breakers several times in March, temporarily pausing trading after severe declines. Although stock prices recovered, the pandemic continued to cause major disruption to employment, public health, and supply chains.