The COVID-19 pandemic triggered the 2020 stock-market crash, including the fastest bear-market descent in United States history. As the virus spread internationally in February and March 2020, investors anticipated lockdowns, business closures, travel disruption, unemployment, and a sharp economic contraction.
The S&P 500 entered a bear market on March 12, 2020, after falling at least 20 percent from its record high. It reached a closing low on March 23, after which extraordinary monetary and fiscal support helped markets rebound. Several trading days were halted by market-wide circuit breakers as prices fell rapidly.
The crash was also intensified by an oil-price dispute between Saudi Arabia and Russia in March 2020. Although the initial collapse was historic, the recovery was unusually fast compared with many earlier crashes, and different industries experienced very different effects.