The S&P 500 closed at 2,237.40 on March 23, 2020, the low of the COVID-19 market crash.
The index’s closing low came after markets reacted to the rapid global spread of COVID-19, business shutdowns, travel restrictions, and uncertainty about economic activity. From its February 2020 record close, the S&P 500 fell into a bear market in just a few weeks.
March 23 was the closing low, not the exact intraday low for every market measure. The Federal Reserve announced additional emergency support that day, including plans to support broader credit markets. Extraordinary fiscal and monetary measures followed.
Stocks then rebounded sharply as investors anticipated policy support, improving financial conditions, and eventual vaccine development. The crash and recovery were unusually fast compared with many earlier market downturns.