Which pandemic caused the worldwide stock-market crash that began in February 2020?

The COVID-19 pandemic caused the worldwide stock-market crash that began in February 2020.

As COVID-19 spread internationally, governments introduced travel restrictions, lockdowns, business closures, and other measures to slow transmission. Investors quickly marked down expectations for company earnings, employment, tourism, energy demand, and global trade.

Major indexes fell rapidly in February and March. The S&P 500 entered a bear market after dropping more than 20% from its February record, and several U.S. exchanges activated temporary trading halts known as circuit breakers. Markets reached a dramatic low on March 23, 2020, before recovering as fiscal support, central-bank action, and vaccine development improved expectations.

The pandemic was the central shock, but the crash also exposed vulnerabilities in oil markets and highly leveraged financial positions. The episode is distinct from the 2010 Flash Crash, which was a brief trading event rather than a global pandemic recession.