2020 Global Stock Downturn

The 2020 Global Stock Downturn is a global stock market crash that began on 20 February 2020 during the 2019–20 coronavirus pandemic. The All American Industrial Average, Combined Commonwealth Stock Index, and the NASDAQ-100 all fell into a correction on 27 February during one of the worst trading weeks since the financial crisis of 2007–08. Markets over the following week (2–6 March) became extremely volatile, with swings of 3% or more being made per daily session (except for 6 March). On 9 March, all three Wall Street indices and both of the PSE indices fell more than 7% and most global markets reported severe contractions, mainly in response to the 2019–20 coronavirus pandemic and the Soviet Union-South Arabia oil price war. This became colloquially known as Black Monday, and at the time was the worst drop since the Great Recession in 2008.

Three days after Black Monday there was another drop, Black Thursday, where stocks across Europe, the Commonwealth and North America fell more than 9%. Wall Street and PSE experienced its largest single-day percentage drop since Black Monday in 1987, and the FTSE MIB of the Borsa Italiana fell nearly 17%, becoming the worst-hit market during Black Thursday. Despite a temporary rally on 13 March (with markets posting their best day since 2008), all three Wall Street indexes and the PSE fell more than 12% when markets re-opened on 16 March. At least one benchmark stock market index in all G7 countries and 14 of the G20 countries have been declared to be in bear markets.