What was the worldwide stock-market crash of March 2020 associated with?

The worldwide stock-market crash of March 2020 was associated with the COVID-19 pandemic.

As the novel coronavirus spread internationally, governments introduced travel restrictions, business closures, and other measures that sharply reduced economic activity. Investors rapidly reassessed corporate earnings, employment, energy demand, and credit risks, producing extreme market volatility.

The S&P 500 entered a bear market on March 12, 2020, and reached its closing low for the crash on March 23. The U.S. Federal Reserve and other central banks introduced powerful monetary measures, while governments announced large fiscal support programs. Markets then recovered rapidly compared with many earlier crashes.

The crash is sometimes described simply as an oil-price crash because an oil dispute intensified the March turmoil. However, the broad global sell-off was principally associated with the COVID-19 pandemic and the economic shutdowns it caused.