March 23, 2020, marked the 2020 COVID-19 crash’s closing low for the Dow Jones Industrial Average.
The Dow closed at 18,591.93 on March 23, after falling rapidly as the COVID-19 pandemic spread and governments imposed restrictions that disrupted travel, commerce, and employment. The decline followed several emergency interest-rate cuts, extraordinary volatility, and a collapse in oil prices connected to a dispute between major producers.
The Dow’s closing low came after four trading pauses known as circuit breakers had been triggered earlier in March. From its February 2020 record close to the March 23 low, the index fell roughly 37%.
The low did not end the economic crisis, but stock prices began a powerful rebound as governments and central banks provided support and investors anticipated vaccines and reopening. The Dow later set new records, making the March date a market low rather than the end of the pandemic’s economic effects.