What was the shortest U.S. bear market, lasting about one month during the 2020 COVID-19 crash?

The 2020 bear market was the shortest U.S. bear market, lasting about one month during the COVID-19 crash.

The S&P 500 entered a bear market on March 12, 2020, after falling at least 20 percent from its February record close. It reached its pandemic-era low on March 23, and the rapid rebound meant the bear-market phase lasted roughly one month. The speed reflected extraordinary uncertainty about the virus, economic shutdowns and financial conditions.

Central banks and governments responded with large emergency measures. The Federal Reserve cut interest rates to near zero, expanded asset purchases and introduced lending facilities, while governments enacted major fiscal support. These actions helped stabilize markets, although the economic recession itself was severe.

The 2020 episode is often compared with 2008, but its trigger was different. The 2008 crash grew from financial and housing-system problems; the 2020 crash began with a public-health emergency and the abrupt interruption of economic activity.