Which 2020 crash saw the S&P 500 fall nearly 34% from February 19 to March 23?

The 2020 crash in which the S&P 500 fell nearly 34% from February 19 to March 23 was the COVID-19 market crash.

Investors rapidly repriced shares as the COVID-19 pandemic spread beyond China, governments imposed travel restrictions and lockdowns, and expectations for business activity deteriorated. The S&P 500 reached a record closing high on February 19, 2020, then entered a bear market in March. The Dow Jones Industrial Average also experienced several historic one-day declines.

The Federal Reserve cut interest rates, restarted large-scale asset purchases, and introduced emergency lending facilities. Governments provided fiscal support, while later optimism about vaccines and economic reopening helped markets rebound. The crash is sometimes described through its most dramatic sessions, including two “Black Monday” dates in March, but the full episode lasted several weeks and was driven by the pandemic shock rather than one isolated trading error.