Which global event triggered the sharp stock-market crash of March 2020?

The COVID-19 pandemic triggered the sharp global stock-market crash of March 2020.

As the virus spread internationally, governments imposed travel restrictions, business closures, and stay-at-home measures. Investors rapidly reassessed corporate earnings, employment, supply chains, and energy demand. The result was a synchronized sell-off across major markets, often called the COVID-19 crash.

The S&P 500 entered a bear market on March 12, 2020, and reached its pandemic-era low on March 23. The Federal Reserve and other central banks cut interest rates, purchased assets, and supplied emergency liquidity. Governments also introduced large fiscal-support programs.

The crash’s speed was unusual: after the March low, markets recovered strongly as monetary support, fiscal aid, vaccine progress, and expectations of reopening improved sentiment. The virus was the trigger, but pre-existing valuations, uncertainty about economic shutdowns, and an oil-price dispute contributed to the market’s volatility. The event should not be confused with the 2008 financial crisis, which began in the banking and housing sectors.