What was the 2020 global market plunge caused by the COVID-19 pandemic called?

The 2020 global market plunge caused by the COVID-19 pandemic is called the COVID-19 market crash.

Equity markets fell rapidly in February and March 2020 as the virus spread internationally, governments imposed restrictions, businesses closed, and investors assessed a sudden threat to economic activity. On March 9, March 12, and March 16, U.S. markets triggered circuit breakers as prices dropped sharply.

The S&P 500 entered a bear market on March 12, and its decline from the February 19 record close to the March 23 low was approximately 34 percent. Central banks cut interest rates or expanded asset purchases, while governments introduced large fiscal-support programs. Markets then rebounded rapidly compared with many earlier crashes.

The crash was part of the wider COVID-19 recession, but the two terms are not identical: one describes financial-market prices, while the other describes the broader economic contraction. The March 2020 oil-price shock added further volatility.