The sharp global market plunge on March 9, 2020, during the COVID-19 shock, was called Black Monday.
On that date, stock markets fell sharply as investors reacted to the rapid spread of COVID-19, fears of a worldwide recession, and a collapse in oil prices. The oil shock followed a breakdown in cooperation between OPEC and Russia, which led Saudi Arabia to announce plans to increase production. The S&P 500 fell about 7.6%, triggering a market-wide trading halt in the United States.
A circuit breaker temporarily stopped trading after the index crossed a preset threshold. Similar halts occurred on March 12 and March 16, 2020, as the pandemic caused extraordinary uncertainty. The episode formed part of the broader COVID-19 market crash.
“Black Monday” is not unique to 2020: the same nickname is most famously associated with October 19, 1987. The dates and causes distinguish the two events, even though both involved abrupt worldwide declines.