The Dow Jones Industrial Average fell 2,997 points on March 16, 2020, its largest point drop at the time.
The fall occurred during the 2020 stock-market crash, when investors reacted to the rapidly spreading COVID-19 pandemic, travel restrictions, business closures, and fears of a worldwide recession. The Dow declined 12.93% that day, while the S&P 500 and Nasdaq Composite also suffered severe losses. Trading was halted temporarily under market circuit-breaker rules.
The crash followed major declines on March 9 and March 12. On March 15, the Federal Reserve cut its target interest rate to near zero and announced large-scale asset purchases, but uncertainty remained extremely high. A rebound began later in March as governments and central banks introduced extensive support measures.
Point declines depend on the index’s level, so percentage losses are better for comparing different historical crashes. March 16 was the largest Dow point drop at that time, but not its largest percentage decline.