The S&P 500 lost 33.9% during the 2020 COVID-19 bear market.
Measured from its February 19, 2020 record close to its March 23 low, the S&P 500 fell about 33.9%. The decline happened with exceptional speed as the COVID-19 pandemic spread, governments restricted travel and business activity, and investors assessed the economic consequences of widespread shutdowns.
The 2020 crash affected markets internationally and was accompanied by extreme volatility. Trading halts known as circuit breakers were triggered several times in the United States. Oil prices also suffered a historic shock after demand weakened and an early March dispute among major producers contributed to a temporary supply crisis.
The market recovered unusually quickly compared with many earlier crashes. Massive fiscal support, central-bank measures, improving economic expectations, and progress toward vaccines helped prices rebound. A market index’s recovery, however, did not mean that every company or household recovered equally quickly; unemployment and business disruption remained severe during the pandemic.