Black Thursday (2020)
Black Thursday[1] was a global stock market crash on March 12, 2020 as part of the greater 2020 stock market crash. Global stock markets suffered the greatest single-day fall since the 1987 stock market crash.[2]
| Date | March 12, 2020 |
|---|---|
| Type | Stock market crash |
| Cause |
|
Following Black Monday three days earlier, Black Thursday was caused by the 2019–20 coronavirus pandemic and a lack of investor confidence in United States President Donald Trump after he added a 30-day travel ban against the Schengen Area.[3]
Black Thursday (2020) Media
The Federal Reserve has expanded its balance sheet greatly through three quantitative easing periods since the financial crisis of 2007–2008. In September 2019, a spike in the overnight repo market interest rate caused the Federal Reserve to introduce a fourth round of quantitative easing; the balance sheet would expand parabolically following the stock market crash.
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
Indices: S&P BSE 500 (January 2015 to November 2020). Blue highlight reflects COVID-19 period (taken to start from March 2020 as per first lockdown).
Indices: S&P BSE 500 (Period Jan – 2015 to May – 2020). Open, High, Low, Close visible. Fall depicted in black. Rise depicted in white.
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.
President Donald Trump addresses the nation from the Oval Office, 11 March 2020.
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References
- ↑
For an explanation regarding the title "Black Thursday", see:
- Black Thursday: Dow Suffers Biggest Point Drop Ever, as Disney and Apple Fall Hard. Yahoo (March 12, 2020). Retrieved March 12, 2020.
- Doris Dumlao-Abadilla (March 12, 2020). Black Thursday: PSEi sees worst freefall in 12 years. https://business.inquirer.net/292328/psei-sees-worst-freefall-in-12-years. Retrieved March 12, 2020.
- Jonathan Ananda. Pandemic pandemonium: World markets crash into bear country on Black Thursday. The New Indian Express (March 12, 2020). Retrieved March 12, 2020.
- Jonathan Lopez. Europe crude, petchems prices extend losses as stocks suffer 'Black Thursday'. Independent Commodity Intelligence Services (March 12, 2020). Retrieved March 12, 2020.
- Culp, Stephen. Black Thursday: Wall Street stocks plunge 10% in worst one-day loss in 32 years. AM New York Metro (2020-03-12). Retrieved 2020-03-13.
- ↑ Fred Imbert. Dow drops more than 8%, heads for biggest one-day plunge since 1987 market crash. CNBC (March 12, 2020). Retrieved March 12, 2020.
- ↑ Brooks Barnes, Jack Ewing, Peter S. Goodman, Jim Tankersley, John Koblin, Tiffany Hsu, Jeanna Smialek, Kevin McKenna, Stanley Reed, Keith Bradsher, Liz Alderman, Alexandra Stevenson, Isabella Kwai, Keith Bradsher, Nicole Perlroth, Matthew Goldstein, Geneva Abdul and Carlos Tejada. Stocks Plunge as Trump's Travel Ban Adds to Distress: Live Updates. The New York Times (March 12, 2020). Retrieved March 12, 2020.
