Which 2020 stock-market crash was triggered by the COVID-19 pandemic and a Russia–Saudi Arabia oil-price war?

The stock-market crash triggered by the COVID-19 pandemic and a Russia–Saudi Arabia oil-price war was the 2020 stock market crash.

As COVID-19 spread internationally in early 2020, governments introduced travel restrictions, business closures, and stay-at-home measures. Investors feared a sudden global recession and a collapse in corporate earnings. Financial markets became exceptionally volatile as uncertainty about the virus and public-health response grew.

An oil-price shock intensified the turmoil. In March 2020, negotiations between Russia and OPEC, led by Saudi Arabia, broke down, and Saudi Arabia announced major production increases. Oil prices plunged while equity markets were already falling. The S&P 500 entered a bear market unusually quickly and reached a low on March 23, 2020.

Central banks and governments responded with large monetary and fiscal programs. Markets then recovered rapidly as policy support expanded and investors anticipated economic reopening. The crash was distinct from the 2008 crisis because its initial trigger was a global pandemic rather than a financial-system collapse.