What 2020 crash followed the global spread of COVID-19 and produced an exceptionally rapid bear market?

The 2020 crash caused by the global spread of COVID-19 was the COVID-19 market crash.

As countries introduced travel restrictions, business closures, and stay-at-home measures in early 2020, investors rapidly lowered expectations for corporate earnings and economic activity. Financial markets also faced an oil-price shock after disagreements among major oil producers contributed to a sharp fall in crude prices.

The S&P 500 entered a bear market on 12 March 2020 and reached its 2020 closing low on 23 March. The decline was unusually rapid by historical standards. Central banks cut interest rates or expanded asset purchases, while governments introduced large fiscal-support programs. Markets rebounded strongly after the March low, although economic damage and uneven recoveries continued.

The crash is often discussed as part of the broader COVID-19 recession. It differs from the 2008 financial crisis because its initial trigger was a global health emergency and the policy response began much faster.