The Dow Jones Industrial Average fell 12.9% on March 16, 2020, during the COVID-19 stock-market crash.
The decline came as governments imposed restrictions to slow the spread of the novel coronavirus, businesses closed, and investors tried to assess the economic consequences. A simultaneous oil-price shock added further stress to markets already facing intense uncertainty.
March 16 was one of several extraordinary sessions. The Dow also fell 9.99% on March 12, while circuit breakers repeatedly halted trading during the turbulent period. On March 23, the index reached its closing low for the crash.
The crash was followed by a rapid recovery in major US indexes, supported by central-bank actions, government relief, and expectations that vaccines and reopening would eventually restore economic activity. The speed of the rebound distinguishes this episode from many earlier crashes.