Which 2020 crash saw the S&P 500 fall into a bear market in response to the COVID-19 pandemic?

The 2020 crash in which the S&P 500 entered a bear market amid the COVID-19 pandemic was the COVID-19 market crash.

The sell-off accelerated in February and March 2020 as the virus spread internationally, governments imposed restrictions and investors assessed the potential damage to travel, employment, supply chains and corporate earnings. On March 12, the S&P 500 entered a bear market, defined as a decline of at least 20 percent from a recent high.

U.S. exchanges triggered market-wide circuit breakers on March 9, March 12, March 16 and March 18. The Federal Reserve cut interest rates, restarted large-scale asset purchases and introduced emergency lending facilities, while governments launched major fiscal programs.

The crash was unusually rapid, but markets also recovered quickly after March. It should not be confused with the later economic effects of the pandemic, including supply disruptions and inflation. The market event refers specifically to the sharp financial sell-off centered in early 2020.