2020 stock market crash
Videos
On 20 February 2020, stock markets across the world suddenly crashed after growing instability due to the COVID-19 pandemic. It ended on 7 April 2020.
Federal Reserve chairman Jerome Powell announces a 50 basis point cut in the federal funds rate target on 3 March 2020 in light of "evolving risks to economic activity" from the coronavirus
On 11 March 2020, the Dow Jones Industrial Average ended an 11-year bull market run and entered a bear market. Symbolic statues from the Frankfurt Stock Exchange pictured.
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic. Russia walked out of the agreement, leading to the fall of the OPEC+ alliance.
Oil prices per barrel needed for OPEC countries to balance their budgets (in US dollars)