Which 2020 crash began during the COVID-19 pandemic and ended the longest U.S. bull market?

The 2020 stock-market crash caused by the COVID-19 pandemic was the COVID-19 market crash.

As the virus spread internationally in early 2020, governments restricted travel and business activity, while investors feared a deep global economic contraction. U.S. equities entered a bear market at exceptional speed. The S&P 500 fell about 34% from its 19 February peak to its 23 March low, ending the longest U.S. bull market on record at that time.

The Federal Reserve cut interest rates, restored and expanded emergency lending programs, and bought financial assets. Governments also introduced large fiscal-support packages. These measures, together with changing expectations about vaccines and reopening, helped markets recover rapidly from the March low.

The crash should not be confused with the later economic effects of the pandemic. Stock prices rebounded while unemployment, business closures, supply disruptions, and public-health damage continued. The event was both a market shock and part of a much broader global crisis.