The Dow Jones Industrial Average recorded its largest one-day point drop, 2,997 points, on March 16, 2020.
The decline occurred during the market crash associated with the COVID-19 pandemic. The Dow fell 2,997.10 points, or about 12.9%, and the S&P 500 and Nasdaq Composite also suffered major losses. Trading was halted temporarily under market circuit-breaker rules as selling accelerated.
The crash reflected rapidly changing expectations about the pandemic, business closures, travel restrictions, employment, corporate earnings, and energy demand. An oil-price dispute between Saudi Arabia and Russia added to the volatility in March. The Federal Reserve and other central banks later introduced or expanded emergency measures, while governments provided fiscal support.
Point losses and percentage losses are different measurements. The 2020 fall was the largest Dow point decline because the index level was much higher than during older crashes. Black Monday in 1987 remains the Dow’s largest one-day percentage drop, so the two records should not be confused.