What was the fastest bear market in S&P 500 history, beginning in February 2020?

The COVID-19 bear market, which began in February 2020, was the fastest bear market in S&P 500 history.

The S&P 500 entered bear-market territory on March 12, 2020, after falling at least 20% from its February 19 record close. The decline reflected the rapidly spreading COVID-19 pandemic, travel restrictions, business closures, and fears that economic activity would contract sharply. Extraordinary uncertainty produced huge daily price swings.

The index reached its crash low on March 23, 2020, only 33 calendar days after its record close. That made the episode unusually rapid compared with earlier bear markets. Central-bank action, government fiscal support, and expectations for vaccines helped drive a powerful rebound afterward.

The COVID-19 crash is sometimes called the coronavirus crash or the 2020 stock market crash. It should not be confused with the later inflation-related 2022 bear market, which had different immediate drivers and lasted much longer.