The global stock-market crash known as the COVID-19 crash occurred in 2020.
Markets plunged in February and March 2020 as the COVID-19 pandemic spread internationally, governments imposed restrictions, and investors assessed the threat to travel, employment, trade, and corporate earnings. The S&P 500 entered a bear market after falling more than 20% from its February record.
The downturn was unusually rapid. On March 16, 2020, the S&P 500 fell 12%, its worst one-day percentage decline since 1987. Central banks cut interest rates or expanded asset purchases, while governments introduced large fiscal-support programs. These measures helped stabilize markets after the initial collapse.
The crash is sometimes confused with the separate oil-price shock that occurred at the same time. In early March, a dispute between Saudi Arabia and Russia contributed to a sharp fall in oil prices, but the dominant global market shock was the pandemic and its economic consequences. Market recovery later in 2020 was also historically fast.