The Dow Jones Industrial Average’s largest one-day point drop during the COVID-19 crash was about 2,997 points on March 16, 2020.
The decline came as the COVID-19 pandemic spread rapidly, governments introduced restrictions, and investors assessed the likely economic consequences. The Dow fell 12.93%, its largest percentage loss since 1987’s Black Monday.
The Federal Reserve announced emergency measures around the same period, including a return to near-zero interest rates and large-scale asset purchases. Governments also introduced fiscal support and programs aimed at protecting households and businesses.
The 2020 crash was unusually abrupt, but the market recovered quickly compared with many earlier crashes. The speed of both the fall and rebound was influenced by unprecedented policy support and changing expectations about the pandemic and reopening.