Which U.S. stock-market crash began after the 2020 COVID-19 pandemic spread globally?

The 2020 stock-market crash began after the COVID-19 pandemic spread globally.

Global equity markets fell sharply in February and March 2020 as governments introduced travel restrictions, lockdowns, and other measures to slow the virus. Investors feared a major interruption to economic activity, supply chains, employment, and corporate earnings.

The S&P 500 entered a bear market on March 12, 2020, and reached its low for the crash on March 23. The Federal Reserve and other central banks introduced aggressive support measures, while governments approved large fiscal programs. Markets then rebounded rapidly, although the pandemic's economic effects continued.

The crash is sometimes described as only a health crisis, but financial markets also reacted to an oil-price dispute between Saudi Arabia and Russia in early March. The 2020 decline was unusually fast compared with many earlier bear markets.