The worldwide market plunge on 9 March 2020, the first of three such days that month, was nicknamed Black Monday.
The 2020 sell-off followed growing fears about the COVID-19 pandemic and a sharp dispute between Saudi Arabia and Russia over oil production. Oil prices collapsed after negotiations among major producers broke down, adding pressure to already nervous financial markets.
The S&P 500 fell about 7.6 percent, triggering a temporary trading halt known as a circuit breaker. Similar declines occurred in markets around the world. Another Black Monday occurred on 16 March, when the S&P 500 fell about 12 percent.
The name can cause confusion because Black Monday also refers to the famous 1987 crash. In 2020, the term described a particular pandemic-era market shock, not a single permanent event. Central-bank actions, government support, and later vaccine developments shaped the recovery.