The Dow Jones Industrial Average fell approximately 12.9% on March 16, 2020, during the COVID-19 market crash.
The decline was one of the largest single-day percentage falls in the Dow's history. Investors were reacting to the rapid spread of COVID-19, travel restrictions, business closures, uncertainty about economic activity, and stress in energy markets. The S&P 500 and Nasdaq Composite also suffered major losses.
The sell-off came after several trading halts, known as circuit breakers, had been triggered during the preceding weeks. On March 15, the Federal Reserve cut interest rates to near zero and announced other emergency measures, but markets still opened sharply lower on March 16.
The March 16 figure is sometimes confused with the Dow's point loss, which was about 2,997 points, or with the broader 2020 low reached later in March. The crash was unusually rapid, but markets subsequently rebounded strongly after fiscal support, central-bank intervention, and changing expectations about the pandemic economy.