March 16, 2020, marked the 2020 stock-market crash’s steepest single-day Dow Jones percentage fall.
The Dow Jones Industrial Average dropped 12.93% that day as investors reacted to the rapidly spreading COVID-19 pandemic, escalating restrictions, and fears of a deep economic contraction. The decline followed emergency interest-rate action by the U.S. Federal Reserve and came during a period of extreme volatility.
The crash unfolded in February and March 2020 rather than on one isolated day. Trading was halted several times by circuit breakers designed to slow panic selling. March 9 and March 12 were also exceptionally severe sessions, but March 16 produced the largest Dow percentage decline during the episode. The market later rebounded strongly after fiscal support, monetary intervention, and improving expectations.