The Dow Jones Industrial Average lost 12.9% on March 16, 2020, during the 2020 stock-market crash.
The decline occurred as the COVID-19 pandemic spread internationally and governments introduced restrictions that sharply reduced travel, commerce, and economic activity. Investors feared a deep recession and rapidly reassessed the outlook for companies, banks, and energy producers.
March 16 was one of several extraordinary sessions. The Dow also fell 9.99% on March 12, while trading was repeatedly interrupted by exchange circuit breakers. Central banks and governments responded with interest-rate cuts, emergency lending, fiscal support, and programs intended to stabilize financial markets.
The 2020 crash is distinct from the 2008 financial crisis because its initial trigger was a public-health emergency rather than the collapse of mortgage finance. Markets recovered unusually quickly after the March low, although economic damage, unequal effects, and later inflation created additional challenges. The S&P 500 and other indexes also suffered major declines during the same period.