The Dow Jones Industrial Average first lost more than 2,000 points in one session on 9 March 2020.
The Dow fell 2,013.76 points that day, closing at 23,851.02. The decline was driven by escalating fears about the economic effects of the COVID-19 outbreak and a collapse in oil prices after negotiations between major oil producers broke down.
The session was also the first of several 2020 trading days when U.S. exchanges triggered circuit breakers. Trading was halted temporarily after the S&P 500 fell 7% shortly after the opening. The rapid sell-off reflected both the new public-health emergency and the financial market’s reassessment of business activity, travel, energy demand, and corporate earnings.
The date is sometimes confused with March 12 or March 16, when the Dow suffered even larger point losses. March 16 produced the biggest point decline of the period, but March 9 was the first session in which the index fell by more than 2,000 points.