What global market crash began in February 2020 as COVID-19 spread internationally?

The 2020 stock-market crash began in February 2020 as COVID-19 spread internationally.

Investors rapidly reassessed corporate earnings, travel, energy demand, and economic activity as governments introduced restrictions to slow transmission of the virus. Major indexes entered bear-market territory at exceptional speed. On March 9 and March 12, U.S. markets experienced especially severe declines, and March 16 brought another historic sell-off.

The Federal Reserve and other central banks cut interest rates or expanded financial support, while governments announced large fiscal programs. Markets later rebounded strongly, helped by policy support, vaccine development, and expectations of economic reopening, although the pandemic continued to cause major disruption.

The crash is sometimes confused with the entire financial market experience of the pandemic. The initial collapse was followed by a powerful recovery, and different countries and sectors performed very differently.