What 2020 market crash followed worldwide lockdowns and travel restrictions during the COVID-19 pandemic?

The 2020 market crash followed worldwide lockdowns and travel restrictions during the COVID-19 pandemic.

As the virus spread internationally in February and March 2020, investors rapidly reassessed corporate earnings, employment, travel, and economic activity. Major stock indexes fell at exceptional speed. The S&P 500 entered a bear market on 12 March 2020 and reached its pandemic-era closing low on 23 March.

Market stress was intensified by an oil-price dispute between Saudi Arabia and Russia, which contributed to a collapse in crude prices. The Federal Reserve and other central banks cut interest rates or expanded asset purchases, while governments introduced large fiscal support programs. Trading halts, known as circuit breakers, were triggered repeatedly in the United States during March.

The crash was followed by a historically rapid rebound, although recovery varied across industries and countries. It is distinct from the 2008 financial crisis because its initial cause was a public-health emergency and economic shutdown rather than a banking-system collapse.