Which 2020 stock-market crash was triggered by the COVID-19 pandemic and a collapse in oil-price negotiations?

The 2020 stock-market crash was triggered by the COVID-19 pandemic and a collapse in oil-price negotiations.

Global equity markets fell rapidly in February and March 2020 as the spread of COVID-19 led governments to restrict travel, close businesses, and impose lockdowns. On March 9, an oil-price dispute between Saudi Arabia and Russia added to the selling after negotiations involving OPEC+ broke down, causing crude prices to plunge.

The S&P 500 entered a bear market on March 12, and on March 16 it fell 12%, its largest one-day decline since 1987 at that time. Trading halts, known as circuit breakers, were triggered several times during the turmoil. Massive monetary and fiscal responses later supported markets, although the economic shock itself was severe.

The crash is sometimes described simply as the COVID crash, but the oil-price shock and pre-existing market vulnerabilities also mattered. It was unusually fast: U.S. equities moved from record highs to bear-market territory in weeks, much faster than in many earlier downturns.