March 2020 Circuit Breakers
About March 2020 Circuit Breakers
In March 2020, the S&P 500 triggered circuit breakers four times in eight trading sessions, halting trading for 15 minutes each time. Circuit breakers were triggered at 7 percent declines. The COVID 19 pandemic caused the fastest market decline in history. The VIX, or fear index, reached 82.69, the highest since 2008. Treasury bond yields hit zero for the first time. Gold, normally a safe haven, fell as investors sold everything for cash. The Federal Reserve announced unlimited quantitative easing on March 23, which marked the market bottom. The recovery from the COVID crash was the fastest in history.
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