The Dow Jones Industrial Average suffered its steepest percentage fall of the 2020 stock-market crash on March 16, 2020.
The Dow lost 2,997.10 points that day, a decline of 12.93 percent. The fall occurred as investors reacted to the rapidly expanding COVID-19 pandemic, travel restrictions, economic shutdowns, and uncertainty about corporate earnings and financial conditions.
March 16 was one of several exceptionally volatile sessions. The Dow also fell sharply on March 9 and March 12, while emergency trading halts were triggered during the turmoil. The Federal Reserve and other central banks introduced major support measures as markets deteriorated.
The March 16 decline is often confused with the crash’s percentage fall on March 12, which was also historically large. The market later reached its 2020 low on March 23 before beginning a powerful recovery.