Which 2020 crash began as COVID-19 spread and included the fastest bear-market fall in U.S. stock-market history?

The COVID-19 market crash began as COVID-19 spread and included the fastest bear-market fall in U.S. stock-market history.

Global equities plunged in February and March 2020 as governments imposed restrictions, businesses closed, travel collapsed, and investors assessed an unprecedented public-health emergency. The S&P 500 entered a bear market on March 12, after a decline of at least 20% from its February peak. It reached a low on March 23.

U.S. markets triggered circuit breakers several times in March, including on March 9, 12, 16, and 18. The Federal Reserve cut interest rates, restarted large-scale asset purchases, and introduced emergency lending programs. Governments also enacted major fiscal support.

The crash was unusually brief compared with many historic bear markets. After March 23, 2020, equities rallied strongly as monetary support, fiscal aid, vaccine development, and expectations of economic reopening improved sentiment. The downturn is often confused with the broader economic damage from the pandemic, which continued after stock prices began recovering.