The Dow Jones Industrial Average suffered its largest single-day point drop during the 2020 COVID-19 crash on March 16, 2020.
The index fell 2,997.10 points, or nearly 13%, as investors reacted to the rapid spread of COVID-19, expanding restrictions on travel and business, and extraordinary uncertainty about the economic consequences. Trading was halted temporarily through a market-wide circuit breaker after the decline crossed the applicable threshold.
The March 16 collapse followed other violent sessions, including March 9 and March 12. It occurred during a broader global sell-off that affected equities, oil, credit markets, and currencies. Central banks and governments soon announced substantial monetary, fiscal, and public-health responses.
The point record should not be confused with a percentage record. A point loss depends on the index’s level, so later markets can lose more points even when their percentage decline is smaller. In percentage terms, March 16 was also one of the Dow’s worst days, but the 1987 crash remains the record percentage fall.