The COVID-19 crash was the 2020 market collapse triggered by fears about the global coronavirus pandemic and its economic effects.
Major stock indexes fell rapidly in February and March 2020 as countries introduced travel restrictions, business closures, and other measures to slow transmission. The S&P 500 entered a bear market on March 12, 2020, after falling at least 20% from its February record close. It reached its pandemic-era low on March 23.
The decline was unusually fast. The U.S. bear market lasted only about a month from its record high to its low, although individual markets and economies experienced different timing. A brief oil-price dispute between Saudi Arabia and Russia added pressure to markets in March.
Central banks cut interest rates or expanded asset purchases, while governments introduced large fiscal-support programs. Markets recovered sharply later in 2020, but the crash and recovery were not uniform across sectors, countries, or households.