The COVID-19 outbreak caused the fastest bear-market entry in US stock-market history during the 2020 crash.
The COVID-19 pandemic spread internationally in early 2020, prompting travel restrictions, business closures, and unprecedented uncertainty about economic activity. Between 19 February and 23 March 2020, the S&P 500 fell about 34% from its record high, entering a bear market in only 16 trading days.
The decline was intensified by an oil-price dispute between Saudi Arabia and Russia, which contributed to a sharp fall in crude prices. Emergency interest-rate cuts, central-bank support, government spending, and restrictions on short selling helped stabilize markets. The recovery was unusually rapid compared with many earlier crashes.
COVID-19 is the disease caused by the SARS-CoV-2 virus. The market crash describes the financial reaction to the pandemic and related economic measures, not a single exchange failure. Different countries’ indexes reached their lows on different dates, so global market performance was not identical everywhere.