February 2020 was the first month of the 2020 COVID-19 stock-market crash, when global markets began their rapid collapse.
After the coronavirus outbreak spread beyond China and raised fears about travel restrictions, business closures, and disrupted supply chains, major stock indexes began falling sharply in February. The sell-off accelerated in March, when the World Health Organization characterized COVID-19 as a pandemic and governments introduced sweeping containment measures.
The episode was unusually fast. In the United States, the S&P 500 entered a bear market in March after reaching a record high in February. Oil-price tensions and emergency monetary and fiscal measures added further volatility. The crash is sometimes dated only to March because that month contained the most dramatic sessions, but February was when the broad global decline began. It was followed by an exceptionally rapid rebound in many markets after unprecedented policy support and the development of effective vaccines.