The S&P 500’s largest single-day percentage drop during the 2020 COVID-19 crash was 12.0% on March 16, 2020.
The index fell 324.89 points, or 12.0%, as investors reacted to the rapidly spreading coronavirus, economic shutdowns, and emergency measures that were disrupting travel, employment, and business activity. The session was the S&P 500’s worst percentage day since Black Monday in 1987. Trading was repeatedly interrupted by circuit breakers during the period’s extreme volatility.
The 2020 crash developed with unusual speed. From its February 19 record close to its March 23 low, the S&P 500 lost about 34%. Massive fiscal support, Federal Reserve actions, vaccine progress, and expectations of reopening then helped drive a powerful recovery. The March 16 percentage is sometimes confused with the Dow’s percentage loss that day or with the S&P 500’s March 12 decline. Those were different index measurements and dates.