The COVID-19 crash was the March 2020 stock-market collapse that followed the worldwide spread of COVID-19 and an oil-price dispute.
Financial markets fell rapidly as governments introduced travel restrictions, business closures, and other measures to limit transmission of the coronavirus. On March 9, 2020, an oil-price dispute between Saudi Arabia and Russia added to pressure after negotiations among major producers broke down.
The S&P 500 entered a bear market on March 12, and U.S. markets triggered circuit breakers on March 9, 12, 16, and 18. The Federal Reserve cut interest rates, purchased assets, and introduced emergency lending measures, while governments enacted large fiscal-support programs.
The crash was followed by a rapid rebound in many major indexes, although the economic recession was severe and uneven. Market performance was shaped by public-health news, fiscal and monetary policy, vaccine developments, and changes in consumer and business activity.