The Dow Jones Industrial Average reached its lowest closing level of the 2020 COVID-19 market crash on 23 March 2020. The close came after an exceptionally rapid global sell-off driven by pandemic fears and economic shutdowns.
The crash began in February 2020 as investors reacted to the spread of COVID-19 beyond China and the possibility of widespread restrictions. March brought severe volatility, including several U.S. sessions that triggered newly used market-wide circuit breakers.
The Federal Reserve announced major support measures, while governments introduced fiscal programs and public-health restrictions. Markets began a powerful rebound after the March low, even though the pandemic and its economic effects continued.
The lowest closing date is not the same as the day of the largest Dow point loss. The market’s biggest point decline occurred on 16 March 2020, while the lowest closing level during this crash came one week later.