Which global health emergency was the main trigger named for the 2020 stock-market crash?

The COVID-19 pandemic was the main trigger named for the 2020 stock-market crash.

As the virus spread internationally in February and March 2020, governments imposed travel restrictions, business closures, and stay-at-home measures. Investors rapidly revised expectations for economic growth, corporate earnings, employment, and energy demand. Major stock indexes around the world entered bear markets, and volatility reached exceptional levels.

The crash also coincided with an oil-price shock after Russia and Saudi Arabia disagreed over production cuts, adding pressure to energy companies and credit markets. In the United States, the Dow Jones Industrial Average recorded four trading halts in March under circuit-breaker rules. Central banks and governments responded with interest-rate cuts, asset purchases, emergency lending, fiscal transfers, and other support. Calling it only a health-driven event leaves out the oil dispute and financial vulnerabilities, while calling it only an oil crash misses the pandemic’s central role. The specific crash label generally refers to the rapid global sell-off from February through March 2020.