title: Liz Phair

text: In late 2015 and mid-2016, Phair stated on her Twitter that she intended to release two albums by the end of 2016. It was confirmed via Twitter that Phair was working on a double album, produced by fellow singer-songwriter Ryan Adams in his PAX-AM recording studio. Phair's project with Adams did not proceed. When multiple women publicly disclosed accusations of abuse against Adams in 2019, a Twitter user asked Phair for a comment about Adams, to which she replied, "My experience was nowhere near as personally involving, but yes the record ended and the similarities are upsetting."


title: Liz Phair

text: In 2018, it was announced that Phair's former label, Matador, would be releasing a 25th-anniversary retrospective set for her debut album, "Exile in Guyville"; the set, titled "Girly Sound to Guyville", includes remasters of Phair's 1991 demo tapes recorded under the moniker Girly Sound from the original sources, and was released May 4. In support of this retrospective, Phair embarked on two North American tours — the "Girly Sound to Guyville Tour" and the "Amps on the Lawn Tour". Phair continued to tour over the summer of 2019.


title: Liz Phair

text: In April 2019, Phair announced via her Instagram that she had been working on new studio material with Brad Wood, who produced "Exile in Guyville", "Whip-Smart", and parts of "whitechocolatespaceegg". On October 8, 2019, Phair shared "Good Side," a song from these sessions. Her seventh album, titled "Soberish", was released in 2021.


title: Liz Phair

text: In April 2020, it was announced that Liz Phair would appear on a cover version of "Hanging on the Telephone" (Blondie and The Nerves) with former friend and collaborator Jim Ellison of Material Issue. The song will be released along with the bio-documentary on Material Issue entitled, Out of Time: The Material Issue Story. It marks the first song to be released with Phair and Ellison since their earlier covers of Turning Japanese and The Tra La La Song (One Banana, Two Banana).


title: Liz Phair

text: In February 2021, Phair announced she had signed a contract with newly reformed Chrysalis Records to issue her album "Soberish" later in the year. The album was released that June, produced once again by Brad Wood. It received perhaps Phair's strongest reviews since "Guyville". "Pitchfork" called the album "a solid, sharply written record of sturdy, enjoyable songs that gradually unfold to reveal new depths of feeling." In "Rolling Stone", Jon Dolan wrote that "Soberish" "brings to mind the glory of "Guyville" and its 1994 follow-up, "Whip-Smart", without feeling at all like self-conscious recapitulation." According to the NME, ""Soberish" serves as a reminder of Liz Phair’s brilliance after years of underestimation. Far from simply drawing on her most critically acclaimed albums, it draws on the whole lot, and finds newness within."


title: Liz Phair

text: Phair was also due to tour with Alanis Morissette for Morissette's rescheduled 2020 tour later in 2021. She cancelled for undisclosed reasons.


title: Liz Phair

text: In 1994, Phair began dating film editor Jim Staskauskas. The couple married on March 11, 1995; their son James Nicholas Staskauskas was born on December 21, 1996.


title: Liz Phair

text: In 2001, Phair and Staskauskas divorced, after which Phair sold her home in Chicago's Lincoln Park neighborhood and relocated to Los Angeles, California. As of 2018, Phair resides in Manhattan Beach, California.


title: Liz Phair

text: An April 2018 profile by "Billboard" revealed that Phair had signed a two-book publishing deal with Random House. "Horror Stories," the first of two planned memoirs, saw release on October 8, 2019. Reviews of "Horror Stories" were generally favorable with several reviewers noting Phair's skills as a writer and her stark honesty in the book.


title: Norman Lloyd

text: Norman Nathan Lloyd (' Perlmutter"'; November 8, 1914 – May 11, 2021) was an American actor, producer, and director with a career in entertainment spanning nearly a century. He worked in every major facet of the industry, including theatre, radio, television, and film, with a career that started in 1923. Lloyd's final film, "Trainwreck", was released in 2015, after he turned 100.


title: Norman Lloyd

text: In the 1930s, he apprenticed with Eva Le Gallienne's Civic Repertory Theatre and worked with such influential groups as the Federal Theatre Project's Living Newspaper unit, the Mercury Theatre, and the Group Theatre. Lloyd's long professional association with Alfred Hitchcock began with his performance portraying a Nazi agent in the film "Saboteur" (1942). He also appeared in "Spellbound" (1945), and was a producer of Hitchcock's anthology television series "Alfred Hitchcock Presents". Lloyd directed and produced episodic television throughout the 1950s, 1960s and 1970s. As an actor, he appeared in over 60 films and television shows, with his roles including Bodalink in Charlie Chaplin's "Limelight" (1952), Mr. Nolan in "Dead Poets Society" (1989), and Mr. Letterblair in "The Age of Innocence" (1993). In the 1980s, Lloyd gained a new generation of fans for playing Dr. Daniel Auschlander, one of the starring roles on the medical drama "St. Elsewhere".


title: Norman Lloyd

text: Lloyd was born Norman Nathan Perlmutter on November 8, 1914, in Jersey City, New Jersey. His family was Jewish and lived in Brooklyn, New York. His father, Max Perlmutter, was an accountant who later became a salesman and proprietor of a furniture store. His mother, Sadie Horowitz Perlmutter, was a bookkeeper and housewife. She had a good voice and a lifelong interest in the theatre, and she took her young son to singing and dancing lessons. He had two sisters, Ruth and Janice, who survived her brother by four months. Lloyd became a child performer, appearing at vaudeville benefits and women's clubs, and was a professional by the age of nine.


title: Norman Lloyd

text: Lloyd graduated from high school when he was 15 and began studies at New York University, but left at the end of his sophomore year. "All around me I could see the way the Depression was affecting everyone; for my family, for people in business like my father, it was a terrible time," he wrote. "I just wasn't going to stay in college, paying tuition to get a degree to be a lawyer, when I could see lawyers who had become taxi drivers." Lloyd's father died in 1945, at age 55, "broken by the world that he was living in."


title: Norman Lloyd

text: In 1932, at age 17, Lloyd auditioned and became the youngest of the apprentices under the direction of May Sarton at Eva Le Gallienne's Civic Repertory Theatre in New York City. He then joined Sarton's Apprentice Theatre in New Hampshire, continuing his studies with her and her associate, Eleanor Flexner. The group rehearsed a total of ten modern European plays and performed at The New School for Social Research and in Boston. Members of the Harvard Dramatic Club saw Lloyd on stage and offered him the lead in a play directed by Joseph Losey. He rejoined Sarton's group, for whom Losey directed a Boston production of "Gods of the Lightning". When Sarton was forced to give up her company, Losey suggested that Lloyd audition for a production of André Obey's "Noah" (1935). It was Lloyd's first Broadway show.


title: Norman Lloyd

text: Through Losey, Lloyd became involved in the social theatre of the 1930s, beginning with an acting collective called The Theatre of Action. The group was preparing a production of Michael Blankfort's "The Crime" (1936),


title: Norman Lloyd

text: Losey brought Lloyd into the Federal Theatre Project — which Lloyd called "one of the great theaters of all time"— and its Living Newspapers, which dramatized contemporary events. They initially prepared "Ethiopia", about the Italian invasion, which was deemed too controversial and was terminated. The first completed presentation was "Triple-A Plowed Under" (1936), followed by "Injunction Granted" (1936) and "Power" (1937).


title: Norman Lloyd

text: When Orson Welles and John Houseman left the Federal Theatre Project to form their own independent repertory theatre company, the Mercury Theatre, Lloyd was invited to become a charter member. He played a memorable role in its first stage production, "Caesar" (1937), Welles's modern-dress adaptation of Shakespeare's tragedy "Julius Caesar" — streamlined into an anti-fascist tour- de-force. In a scene that became the fulcrum of the show, Cinna the Poet (Lloyd) dies at the hands not of a mob but of a secret police force. Lloyd called it "an extraordinary scene [that] gripped the audience in a way that the show stopped for about three minutes. The audience stopped it with applause. It showed the audience what fascism was; rather than an intellectual approach, you saw a physical one."


title: Norman Lloyd

text: The Mercury prepared "The Shoemaker's Holiday" to go into repertory with "Caesar" beginning in January 1938. During the December 25 performance of "Caesar" — when the sets, lighting, and costumes for "Shoemaker" were ready but no previews had taken place — Welles asked the cast if they cared to present a surprise preview immediately after the show. He invited the audience to stay and watch the set changes, and the curtain rose at 1:15 a.m. Lloyd recalled it as "the wildest triumph imaginable. The show was a smash during its run — but never again did we have a performance like that one."


title: Norman Lloyd

text: Lloyd performed on the first of four releases in the Mercury Text Records series, phonographic recordings of Shakespeare plays adapted for educators by Welles and Roger Hill. "The Merchant of Venice" features Lloyd in the roles of Salanio and Launcelot Gobbo. Released on Columbia Masterworks Records in 1939, the recording was reissued on CD in 1998.


title: Norman Lloyd

text: Lloyd played the role of Johnny Appleseed in "Everywhere I Roam" (1938), a play by Arnold Sundgaard that was developed by the Federal Theatre Project and staged on Broadway by Marc Connelly. "It was a lovely experience, although the play failed," Lloyd recalled. "For me, it was a success; in those days, before the Tony Awards, the critics' Ten Best Performers list at the end of the year was the greatest recognition. For my performance, I was selected to be on the list by the critics."


title: Norman Lloyd

text: In late summer 1939, Lloyd was invited to Hollywood, to join Welles and other Mercury Theatre members in the first film being prepared for RKO Pictures — "Heart of Darkness". Given a six-week guarantee at $500 a week, he took part in a reading for the film, which was to be presented entirely through a first-person camera. After elaborate pre-production the project never reached production because Welles was unable to trim $50,000 from its budget, something RKO insisted upon as its revenue was declining sharply in Europe by autumn 1939. Welles asked the actors to stay a few more weeks as he put together another film project, but Lloyd was ill-advised by a member of the radio company and impulsively returned to New York. "Those who stayed did "Citizen Kane"," Lloyd wrote. "I have always regretted it."


title: Norman Lloyd

text: Lloyd later returned to Hollywood to play a Nazi spy in Alfred Hitchcock's "Saboteur" (1942), beginning a long friendship and professional association with Hitchcock. Three years later he was cast by French director Jean Renoir to portray the malicious, dull-witted character Finley in "The Southerner", which was the fourth film of six productions that Renoir directed in the 1940s while living in the United States. After a few more villainous screen roles, Lloyd then worked behind the camera as an assistant on Lewis Milestone's "Arch of Triumph" (1948). A friend of John Garfield, Lloyd performed with him in the 1951 film noir crime drama "He Ran All the Way", Garfield's last film before the Hollywood blacklist ended his film career.


title: Norman Lloyd

text: A marginal victim of the Hollywood blacklist, Lloyd was rescued professionally by Hitchcock, who had previously cast the actor in "Saboteur" and "Spellbound" (1945). Hitchcock hired Lloyd as an associate producer and a director on his television series "Alfred Hitchcock Presents" in 1958. Previously, Lloyd directed the sponsored film "A Word to the Wives" (1955) with Marsha Hunt and Darren McGavin. He continued directing and producing episodic television throughout the 1960s and 1970s. He took an unusual role in the "Night Gallery" episode "A Feast of Blood" as the bearer of a cursed brooch, which he inflicts upon a hapless woman, played by Sondra Locke, who had spurned his romantic advances. In "FM" (1978), Lloyd has a small but pivotal role as the owner of a Los Angeles radio station that is undergoing a mutiny of sorts, due to a battle over advertising. Lloyd's character (Carl Billings) ends up playing the white hat role and keeping the station as is, to the delight of staff and fans.


title: Norman Lloyd

text: In the 1980s, Lloyd played Dr. Daniel Auschlander in the television drama "St. Elsewhere" over its six-season run (1982–88). Originally scheduled for only four episodes, Lloyd became a regular for the rest of the series. In addition to Ed Flanders and William Daniels, "St. Elsewhere" included a roster of relative unknowns, including Ed Begley, Jr., Denzel Washington, Stephen Furst, Eric Laneuville, David Morse, and Howie Mandel.


title: Norman Lloyd

text: Lloyd's first film role in nearly a decade was in "Dead Poets Society" (1989), playing Mr. Nolan, the authoritarian headmaster of Welton Academy, opposite Robin Williams. Initially, Lloyd was hesitant when asked to audition, because he thought the director and producers could judge whether or not he was right for the part by watching his acting on "St. Elsewhere". Director Peter Weir was living in Australia and had not seen "St. Elsewhere". Lloyd agreed to audition for him after winning his daily tennis match.


title: Norman Lloyd

text: From 1998 to 2001, he played Dr. Isaac Mentnor in the UPN science fiction drama "Seven Days". His numerous television guest-star appearances include "The Joseph Cotten Show"; "Murder, She Wrote"; "The Twilight Zone"; "Wiseguy"; ""; "Wings"; "The Practice"; and "Civil Wars".


title: Norman Lloyd

text: He played in various radio plays for Peggy Webber's California Artists Radio Theater and Yuri Rasovsky's Hollywood Theater of the Ear. His last film role was in "Trainwreck" (2015) which he acted in at the age of 99, although he admitted he was slightly put off by the film's raunchy content. He is the subject of the documentary "Who Is Norman Lloyd?", which premiered at the Sundance Film Festival on September 1, 2007. In 2010, he guest-starred in an episode of ABC's "Modern Family". On December 5, 2010, he presented "An Evening with Norman Lloyd" at the Colony Theatre in Burbank, California, where he spoke about his career and answered questions from the audience.


title: Norman Lloyd

text: On June 29, 1936, Lloyd married stage actress Peggy Craven. Together, they had two children: Michael, and actress Josie, who died the year before Lloyd. They remained married for 75 years until her death in 2011.


title: Norman Lloyd

text: Lloyd began practicing his lifelong hobby of tennis at the age of 8. "With the application and time I have devoted to it, I should have been a reigning World Champion", he said in a 2000 interview. His opponents included Charlie Chaplin, Joseph Cotten, and Spencer Tracy. Lloyd continued to play twice a week until July 2015, when he had a fall. He stopped driving in 2014 at Michael's insistence.


title: Norman Lloyd

text: Lloyd turned 100 on November 8, 2014. Two of his longtime friends and understudies, Ed Begley Jr. and Howie Mandel (both of whom co-starred with Lloyd on "St. Elsewhere"), reflected on his centenarian celebration; Begley, Jr. said: "I [have] worked with Norman Lloyd the actor and Norman Lloyd the director, and no one [has] informed me better on the art of storytelling than that talented man. He is a constant inspiration, and my eternal friend"; Mandel added, "I love Norman Lloyd. He is a legend. I have spent hours like a little kid while he regaled us with stories of Hitchcock. He teaches, he entertains. He is a legend."


title: Norman Lloyd

text: On October 25, 2017, two weeks before his 103rd birthday, Lloyd attended Game 2 of the 2017 World Series in Los Angeles. Ninety-one years earlier, at the age of 11, he attended Game 1 of the 1926 World Series at Yankee Stadium.


title: Norman Lloyd

text: Lloyd died in his sleep at his home in the Brentwood neighborhood of Los Angeles, California, on May 11, 2021, at the age of 106.


title: Norman Lloyd

text: In "Me and Orson Welles" (2008), Richard Linklater's period drama set in the days surrounding the premiere of the Mercury Theatre's production of "Caesar", Lloyd is portrayed by Leo Bill.


title: WrestleMania 23

text: WrestleMania 23 was the 23rd annual WrestleMania professional wrestling pay-per-view (PPV) event produced by World Wrestling Entertainment (WWE). It was held for wrestlers from the promotion's Raw, SmackDown!, and ECW brand divisions. The event took place on April 1, 2007, at Ford Field in Detroit, Michigan. The event was the first WrestleMania at Ford Field and the second to take place in the Detroit metropolitan area (following WrestleMania III, which was held at the Pontiac Silverdome in Pontiac, Michigan). It was also the first WrestleMania to feature the ECW brand following its establishment as WWE's third brand in May 2006.


title: WrestleMania 23

text: Eight professional wrestling matches were scheduled for the event, which featured a supercard, a scheduling of more than one main event. The main event of the show, which was the main match on the Raw brand, was John Cena versus Shawn Michaels for the WWE Championship, in which Cena won. The predominant match on the SmackDown! brand was Batista versus The Undertaker for the World Heavyweight Championship, in which The Undertaker was victorious. The primary match on the ECW brand saw ECW World Champion Bobby Lashley (representing Donald Trump) defeat Raw's Intercontinental Champion Umaga (representing Vince McMahon) in a match where either Trump or McMahon would be shaved bald if their wrestler lost. The match was billed as the "Battle of the Billionaires". Other featured matches included an eight-man tag team match between The ECW Originals and The New Breed and an eight-man interpromotional Money in the Bank ladder match.


title: WrestleMania 23

text: Tickets for the event went on sale on November 11, 2006. The event set the all-time Ford Field attendance record of 80,103 people; people from all fifty U.S. states, twenty-four countries, and nine Canadian provinces attended the event. WrestleMania 23 grossed $5.38 million in ticket sales, breaking the previous record of $3.9 million held by WrestleMania X8. WWE estimated that $25 million was pumped into the Detroit economy. With about 1.2 million buys, the event, at the time, was the most bought WWE pay-per-view in history. 2012's WrestleMania XXVIII surpassed the event as the most bought WWE pay-per-view, receiving 1.21 million buys. WrestleMania 23 was also the fifth highest attended WrestleMania in history behind only WrestleMania 29 (which drew 80,676 fans), WrestleMania 35 (which drew 82,265 fans) WrestleMania III (which drew 93,173 fans), and WrestleMania 32 (which drew 101,763 fans).


title: WrestleMania 23

text: WrestleMania is considered World Wrestling Entertainment's (WWE) flagship pay-per-view (PPV) event, having first been held in 1985. It has become the longest-running professional wrestling event in history and is held annually between mid-March to mid-April. It was the first of WWE's original four pay-per-views, which includes Royal Rumble, SummerSlam, and Survivor Series, referred to as the "Big Four". WrestleMania 23 was scheduled to be held on April 1, 2007, at Ford Field in Detroit, Michigan. The event featured wrestlers from the Raw, SmackDown!, and ECW brands. It was the first to feature ECW, a relaunch of the former Extreme Championship Wrestling promotion that became a WWE brand in June 2006, subsequently also being the first to feature the ECW World Championship (although it was not defended at this event as the champion competed in a non-title match).


title: WrestleMania 23

text: The set design for WrestleMania 23 began development in October 2006 after WWE set designer, Jason Robinson, first received the final logo for the event. Robinson and his team first surveyed Ford Field in July 2006 and began planning out the staging and lighting designs. After returning to the stadium in January 2007 for more site surveying, Robinson and his team finalized the set's design in February. The final design resulted in WrestleMania 23 having the largest set ever built for a WrestleMania event. It incorporated 414 LED video screens and automated lights, 10 spotlights, 56 searchlights, 50,000 ft of cable for pyrotechnics and other use, and 35 stage flamethrowers used to produce 30 ft high and 6 ft wide flames, all which gave the set a unique look for each performer's entrance and an expanded stage lighting element of 300 ft in width and 100 ft in height using the specialized stage lighting instruments. The ramp used to reach the ring from the entrance set was 187 ft in length.


title: WrestleMania 23

text: Though it took three weeks to fully prepare Ford Field, set assembly began the week before WrestleMania 23 and was completed shortly before the day of the event. It took a week for three hundred staff members, unloading and working from forty semi-trucks, to build the set and assemble the event's lighting within Ford Field, far more than the usual forty hours, one hundred staff members, and fourteen semi-trucks required for the production of WWE's weekly television events. After the event concluded, it took around thirty hours to disassemble the set and lighting, also far more than the usual three hours required for WWE's weekly television events.


title: WrestleMania 23

text: WrestleMania 23 featured professional wrestling matches involving wrestlers from existing scripted feuds and storylines played out on WWE's television programs. Wrestlers portrayed faces (heroes) or heels (villains) as they followed a series of events that built tension and culminated in a match or a series of matches.


title: WrestleMania 23

text: The main staged rivalry heading into WrestleMania 23 was between WWE Chairman Vince McMahon and future 45th President of the United States Donald Trump. On the January 8 edition of "Raw", Trump faced off against his real-life rival, Rosie O'Donnell. Trump won the contest, although local wrestlers portrayed Trump and O'Donnell. During McMahon's "Fan Appreciation Night" on the January 29 edition of "Raw", Trump interrupted and dropped large sums of money into the arena. The following month, the two came up with a match for WrestleMania, where the stipulations for the match were that they each had to choose a representative to wrestle for them and the loser would have his head shaved bald. This match was then billed as the "Battle of the Billionaires". McMahon picked Umaga as his representative, while Trump picked Bobby Lashley. After successfully defending his ECW World Championship against Hardcore Holly in a Steel Cage match, a match in which the ring is surrounded by a steel cage on an edition of "ECW on Sci Fi", Lashley charged at the cage, slammed through it, and landed atop of Umaga, who was at ringside. On the March 5 edition of "Raw", Steve Austin was appointed as special guest referee for the "Battle of the Billionaires" match at WrestleMania 23. On the March 26 edition of "Raw", McMahon faced off against Lashley in a No Disqualification match. In the match, several people interfered on McMahon's behalf, including Lance Cade and Trevor Murdoch, Chris Masters, Johnny Nitro, and Umaga. This interference allowed McMahon to win the bout.


title: WrestleMania 23

text: The main rivalry on the Raw brand was between John Cena and Shawn Michaels over the WWE Championship. After The Undertaker, the winner of the 2007 Royal Rumble match, made his decision to face Batista for the World Heavyweight Championship at WrestleMania, a match to determine the next challenger to the WWE Championship was announced. Michaels defeated Randy Orton and Edge in a Triple Threat match to win a chance to face Cena at WrestleMania. On an edition of "Raw", Orton and Edge, who were tag team partners as Rated-RKO, attempted to attack Cena, but Michaels ran-in and attacked them with steel chairs. Before a scheduled tag team match between Rated-RKO and Cena and Michaels, Orton played a video that highlighted the past friendships that Michaels was involved in, before turning on the friend. In the match, Michaels nearly superkicked Cena after Orton moved. Due to a later disagreement, Edge left Orton and walked off backstage, which allowed Cena and Michaels to win the match. The following week, Michaels responded to the video set-up by Orton, and made comments regarding Cena.


title: WrestleMania 23

text: After Michaels defeated Orton, Cena ran-down to the ring and saved Michaels from an attack by Edge and Orton. On the final "Raw" before WrestleMania, Cena and Michaels would team up to face Batista and Undertaker in a rematch from their match at No Way Out. Cena and Michaels looked set to win after performing a synchronized Five Knuckle Shuffle, but Michaels turned on Cena and superkicked him, which allowed Batista and Undertaker to win the match.


title: WrestleMania 23

text: The main feud on the SmackDown! brand was between Batista and The Undertaker over the World Heavyweight Championship. Undertaker won the 2007 Royal Rumble match to earn a championship match against any one of WWE's three world championships (WWE, World Heavyweight, or ECW). On the February 5 episode of "Raw", Undertaker chose to challenge Batista for the World Heavyweight Championship when he chokeslammed him at the center of the ring. In the weeks leading to WrestleMania 23, Batista and Undertaker partook in tag team matches. At the beginning of the feud, Batista claimed to have great respect for The Undertaker; however, after several attacks by The Undertaker, Batista claimed to have lost all respect for him especially at No Way Out when Batista gained some payback by delivering a Spinebuster to The Undertaker, allowing Raw's WWE Champion, John Cena and Shawn Michaels to deliver their signature moves on The Undertaker for the victory during their inter-promotional WrestleMania 23 tag team main event. On the final "Raw" before WrestleMania during a rematch between Cena and Michaels against Batista and Undertaker from No Way Out, Undertaker walked out of the match in response to Batista attacking him during the first encounter, leaving Batista to fight alone against Cena and Michaels. However, Batista and Undertaker would end up winning the match after Michaels betrayed Cena by hitting him with a superkick, which allowed Batista to pin Cena for the win.


title: WrestleMania 23

text: The main feud on the ECW brand was between two teams of four; The ECW Originals and The New Breed. The feud mainly revolved around which team was the "dominant force" in the revived ECW brand. The two factions of four-faced off in several tag team matches throughout the weeks prior to the event. The New Breed seemed to have dominated for several weeks; however, ECW Originals leader, Rob Van Dam, defeated New Breed leader Elijah Burke in a singles match. ECW Original Tommy Dreamer issued the challenge to the New Breed for an eight-man tag team match at WrestleMania 23, which was accepted by Burke on behalf of The New Breed.


title: WrestleMania 23

text: The last major feud involved eight men. Several weeks before WrestleMania 23, it was announced that the Money in the Bank ladder match would be held again, as it was in the last two years. This year, however, there would be eight men involved, rather than six the two previous years had. Throughout the weeks leading up to WrestleMania 23, qualifying matches took place on all three shows. On an edition of "Raw", Edge, the winner of the match held in 2005, defeated Rob Van Dam, the winner of the match held in 2006, to earn the first spot in the match. The next night on "ECW", another cross-brand match took place, with CM Punk defeating Johnny Nitro to qualify. On that week's "SmackDown!", King Booker became the third man to qualify, defeating Kane in a Falls Count Anywhere match after The Great Khali interfered. On the next edition of "Raw", Jeff Hardy pinned Shelton Benjamin in a match to become the fourth man to qualify. The next night on "ECW", Mr. Kennedy defeated Sabu in an Extreme Rules match to earn the fifth spot. On the next "SmackDown!", two qualifying matches took place, with Matt Hardy and Finlay winning their respective match to qualify when Matt Hardy defeated Joey Mercury and Finlay defeated WWE US Champion, Chris Benoit & Montel Vontavious Porter in the Triple threat qualification match. The final qualifying match took place on "Raw" between Carlito and Ric Flair. The match was deemed a no-contest after The Great Khali interfered and attacked both men. The following week, on "Raw", Randy Orton defeated Flair and Carlito in an elimination match to become the final man to qualify. After Edge and Orton had split as a team, the two attempted to get the other taken out of the Money in the Bank ladder match. Both men failed, however, as Edge won a "last chance" battle royal to retain his spot and Orton won a match on "ECW" to retain his.


title: WrestleMania 23

text: At No Way Out, WWE United States Champion Chris Benoit and the Hardy Boyz (Matt Hardy and Jeff Hardy) defeated MNM (Joey Mercury and Johnny Nitro) and Montel Vontavious Porter (MVP). After Benoit and MVP had some matches with the two in them (tag team and triple threat matches), MVP decided to start showing he was the "true" United States Champion. MVP would then have matches against the "champions" of other countries (including Luxembourg and Scotland, who in reality were jobbers), beating them within minutes. MVP then challenged Benoit for the title at WrestleMania 23.


title: WrestleMania 23

text: Before the event went live on pay-per-view, Ric Flair and Carlito faced Gregory Helms and Chavo Guerrero in a tag team lumberjack match. Flair and Carlito controlled the early part of the match until Helms threw Flair over the top rope. The lumberjacks attacked Flair before throwing him back into the ring. Helms and Guerrero continued to beat on Flair, but couldn't pin Flair. Guerrero tried to end it with his frog splash, but Flair moved. Guerrero tagged in Helms, but Flair tagged in Carlito. Carlito dominated Helms, leading to Guerrero coming in to help Helms, but Flair came in and fought Guerrero. Flair and Guerrero took each other out of the ring, and before the lumberjacks could throw them back in the ring, Carlito hit the Backstabber on Guerrero to pick up the win for himself and Flair.


title: WrestleMania 23

text: The event officially began with Aretha Franklin singing a rendition of "America the Beautiful", reprising her role from twenty years earlier at WrestleMania III.


title: WrestleMania 23

text: In the first match that aired, Edge, Randy Orton, Jeff Hardy, King Booker (with Queen Sharmell), Mr. Kennedy, Matt Hardy, Finlay, and CM Punk competed in the third annual Money in the Bank ladder match. The match featured many notable spots, including points where Edge performed the Spear on all the other opponents, followed by Orton doing the same by performing the RKO later in the match. Kennedy missed a Kenton Bomb, landing on a ladder, and received a Swanton Bomb from Jeff. Several dangerous ladders spots were also featured, including Orton performing an RKO on Punk off a ladder, and Booker performing a Book End to Orton off the ladder as well. Midway through the match, Jeff climbed a fifteen-foot-high ladder inside the ring and on his brother, Matt's urging, he performed a leg drop off of that ladder onto Edge, through another ladder bridged between the ring apron and the barricade. They were carried off on stretchers by the paramedics. Later, when Booker was about to retrieve the contract briefcase, Matt held Booker's wife, Sharmell as a hostage, threatening to perform a Twist of Fate on her. Booker went to her aid and received the Twist of Fate from Matt. Finlay fought Matt for some time in the ring, and also performed the Celtic Cross to Matt onto a ladder. Finlay's associate Hornswoggle emerged from under the ring and attempted to retrieve the briefcase for Finlay. He was stopped by Kennedy, who performed his Green Bay Plunge on Hornswoggle. Kennedy went on to win the match, only after knocking Punk off a ladder by hitting him with another ladder.


title: WrestleMania 23

text: The next match was billed as a "SmackDown! versus Raw Interpromotional match". Raw's The Great Khali faced SmackDown!'s Kane. It was a short match but contained a notable spot. In homage to Hulk Hogan slamming André the Giant twenty years earlier at WrestleMania III, Kane picked up Khali for the first time and body-slammed him to the mat. The match ended with Khali pinning Kane after a Giant Chokeslam. After the match, Khali choked Kane out with Kane's chained hook, which was a reference to Kane's movie, "See No Evil", where his character used the hook as a signature weapon.


title: WrestleMania 23

text: A backstage segment was featured next, which involved Cryme Tyme persuading Eugene to dance with Extreme Expose instead he danced with Mae Young and The Fabulous Moolah, who were dressed as strippers as Cryme Tyme danced with Extreme Exposé. Also featured in the segment were WWE Legends Slick, Ricky Steamboat, Jimmy Hart, Irwin R. Schyster, Dusty Rhodes, Sgt. Slaughter, Howard Finkel, Gene Okerlund, Pat Patterson and Gerald Brisco, many of whom had not been seen on television in years until Farooq interrupted the festivities with his signature "DAMN!" catchphrase.


title: WrestleMania 23

text: In the fourth match, Chris Benoit faced Montel Vontavious Porter for the United States Championship. The match started off with a chain of takedowns, holds, and reversals, with MVP keeping up with Benoit, even going for some submission holds. The match lasted almost ten minutes, with Benoit attempting to lock in some of his signature submission holds, but MVP successfully reversed them, including the Crippler Crossface. The two exchanged suplexes and holds until Benoit executed a Diving headbutt on MVP, which led to Benoit getting the pinfall victory to retain the WWE United States Championship. This was Chris Benoit's last Wrestlemania match


title: WrestleMania 23

text: Long-time ring announcer Howard Finkel then introduced the WWE Hall of Fame Class of 2007. The next match featured Batista defending the World Heavyweight Championship against The Undertaker. Undertaker's entrance was without pyro due to it prematurely igniting during an earlier match, catching part of the stage on fire, which was put out with fire extinguishers. The match started with Batista performing a Spear on Undertaker as the bell sounded. The match went back and forth, with both men countering each other and performing their finishers. Undertaker performed a Chokeslam, but Batista kicked out of the pinfall attempt. Undertaker was then able to perform a Last Ride to Batista for a near-fall. Midway through the match, Undertaker performed an Over The Top Rope Suicide Dive on Batista. At one point, Batista was able to perform a running powerslam on Undertaker through a broadcast table. Back in the ring, Batista executed a Spinebuster followed by a Batista Bomb for a near-fall. Undertaker then pinned Batista following a Tombstone piledriver to become the World Heavyweight Champion and emerge from WrestleMania with his winning streak intact. The Undertaker's win made him the first wrestler to have won both the World Heavyweight Championship and the WWE Championship at WrestleMania.


title: WrestleMania 23

text: The ECW Originals (Rob Van Dam, Sabu, Tommy Dreamer, and The Sandman) took on The New Breed (Elijah Burke, Kevin Thorn, Marcus Cor Von, and Matt Striker) next. The match started off with Cor Von working over Sabu. That changed when Cor Von tagged Striker, who missed an elbow after whipping Sabu into the ropes, allowing Sandman to get tagged. Sandman dominated Striker, and eventually tagged Van Dam. Van Dam used also dominated Striker but was poked in the eye, allowing Striker to tag in Burke. Burke had early success, but Van Dam regained the advantage and tagged Sandman again. Sandman worked on Burke until tagging Dreamer. Dreamer also beat down Burke until Cor Von received a blind tag and hit Dreamer from behind. Cor Von attacked Dreamer relentlessly and went over and punched Sabu, which distracted the referee and allowed Dreamer to be triple-teamed by Thorn, Burke, and Striker. Cor Von tagged in Burke who almost pinned Dreamer. Thorn entered next and almost performed his finishing move called the Original Sin. Dreamer managed to escape but was unable to tag his partners. Thorn tagged in Cor Von again who also almost pinned Dreamer. Cor Von tagged Thorn again, and Thorn resumed the beat down on Dreamer. Thorn tagged Striker next, and Striker attempted a suplex that Dreamer blocked and Dreamer suplexed Striker instead. Striker did not try to tag his partners and tried to stop Dreamer, but Dreamer tagged in Sabu. Sabu began to manhandle Striker and executed a leg drop from the top rope. Van Dam was then tagged in. Burke broke up Van Dam's pin attempt, which led to all competitors entering the ring. While the referee was distracted, Ariel gave Striker a chair. But Van Dam gave Striker an Van Daminator when he kicked the chair into Striker's face. Van Dam pinned Striker after a Five-Star Frog Splash to win the match for The Originals.


title: WrestleMania 23

text: The match that WWE billed as the "Battle of the Billionaires" was next, as Umaga (accompanied by Vince McMahon and his handler Armando Alejandro Estrada) fought Bobby Lashley (accompanied by Donald Trump). Stone Cold Steve Austin served as the special guest referee. Trump was attended to by Tara Connor. Midway through the match, Austin was attacked by Umaga, causing him to become incapacitated and was taken out of the match for several minutes. Shane McMahon, who attempted to replace him as the referee, called the match while being biased toward Umaga. After Umaga got a near-fall on Lashley, Austin pulled Shane out of the ring, gave him a Stunner, and went back to the ring. Umaga attempted a Samoan Spike on Austin, but he avoided it and Stunned Umaga. Lashley took the opportunity and speared Umaga, then pinned him to get the victory. After the match, Trump and Lashley shaved Vince's head bald, followed by Austin executing a Stunner on Trump.


title: WrestleMania 23

text: The next match was Melina against Ashley in a Lumberjill Match for the WWE Women's Championship. The match was short, as Melina Bridge pinned Ashley to retain the title. After the match, the lumberjills began brawling in the ring.


title: WrestleMania 23

text: The main event was John Cena against Shawn Michaels for the WWE Championship. After a back and forth match, the longest of the night, Cena applied the STF on Michaels, Michaels submitted and Cena retained the title.


title: WrestleMania 23

text: The event received generally positive reviews. Canadian Online Explorer writers Dale Plummer and Nick Tylwalk rated the entire event 8 out of 10 stars, which was the same rating as the previous year's event. The lowest rated match on the card was Kane versus The Great Khali with a 0.5 out of a 10 star rating, the WWE Women's Championship match between Melina and Ashley was the second lowest rated match; it was rated 2 stars. The "Battle of the Billionaires" match was rated an 8 out of 10 stars. Batista versus The Undertaker for the World Heavyweight Championship match, one of the matches from the double main event, was rated 7.5 out of 10 stars. The main event match for the WWE Championship was rated a 9 out of 10 stars, and the Money in the Bank ladder match received the same rating. The attendance was reported to be 80,103 by numerous sources, a Ford Field record.


title: WrestleMania 23

text: John Cena and Shawn Michaels continued their feud, with Michaels betraying Cena the night after WrestleMania on "Raw". During the second of two battle royals, Michaels eliminated himself and Cena, resulting in The Hardys winning the World Tag Team Championship. On the "Raw" before Backlash, Cena and Michaels wrestled an almost hour long non-title match, which Michaels won.


title: WrestleMania 23

text: Batista also continued his feud with The Undertaker, facing off against him in a Last Man Standing match the following month at Backlash. The match ended in a draw after both men failed to answer the ten count, therefore resulting in Undertaker retaining the title. The two faced each other in a Steel cage match on the May 11, 2007, edition of "SmackDown!", which ended in a draw after both men escaped the cage at the same time. The feud ended when The Undertaker dropped the World Heavyweight Championship due to a legitimate injury. Edge, who won Kennedy's Money in the Bank contract in a match on Raw the previous Monday, cashed it in and defeated The Undertaker after the Steel cage match to win the title.


title: WrestleMania 23

text: Bobby Lashley's feud with Vince McMahon continued for a further three months after the event. Vince, livid after being embarrassed at WrestleMania, vowed to destroy Lashley and take his ECW World Championship. At Backlash, Vince, his son Shane and Umaga teamed up a Three on one handicap match against Lashley, and after two Samoan Splashes by Umaga from the top rope, Vince pinned Lashley to win the ECW World Championship. The feud continued for a further two pay-per-views, with Lashley pinning Shane in a rematch from Backlash at Judgment Day, but Vince ruled that as he did not get pinned, Lashley did not win the title. At One Night Stand, Lashley finally defeated Vince in a Street Fight to reclaim the ECW World Championship.


title: WrestleMania 23

text: The match between Chris Benoit and Montel Vontavious Porter expanded into a lengthy feud for the WWE United States Championship, resulting in Benoit retaining via pinfall at Backlash and MVP winning the title in a Two out of three falls match at Judgment Day, winning 2–0.


title: WrestleMania 23

text: The feud between the ECW Originals and the New Breed continued, with the New Breed defeating the ECW Originals in an Extreme Rules match on the next edition of "ECW". Sabu was released from the company shortly after WrestleMania, and The Sandman was drafted to Raw a few months later in the 2007 WWE Draft. Kevin Thorn left the New Breed shortly after WrestleMania and Marcus Cor Von was also released shortly thereafter. By this point, Elijah Burke and Matt Striker had ceased associating with one another, with Striker eventually being relegated to a manager role for Big Daddy V. In addition, Rob Van Dam left the company when his contract expired shortly after One Night Stand. As a result of all of this, the feud eventually puttered out and was rarely mentioned again.


title: WrestleMania 23

text: Mr. Kennedy lost his Money in the Bank contract to Edge on the May 7 episode of "Raw", after Edge defeated Kennedy in a match with the briefcase on the line. Kennedy would be only Money in the Bank contract holder to never cash in the briefcase until Otis in 2020. On the May 11, 2007, episode of "SmackDown!", after the Undertaker retained the World Heavyweight Championship in a steel cage match against Batista via a draw and was attacked by Mark Henry, Edge successfully cashed the contract in on a beaten-down Undertaker and won the World Heavyweight Championship for the first time in his career.


title: WrestleMania 23

text: This was the last WrestleMania ever to be in 4:3 format until January 2008 when it went to high definition.


title: WrestleMania 23

text: Rockford-Montgomery Labs, through their brand 360 OTC, was named as the official sponsor of the event. On January 19, 2008, WWE filed a lawsuit against the company alleging non-payment of the sponsorship funds. A similar lawsuit was also filed by NASCAR Cup Series team Bill Davis Racing, which had run WWE and WrestleMania 23 sponsorship as part of their sponsorship deal with 360 OTC.


title: Aruna Irani

text: Aruna Irani (born 3 May 1946) is an Indian actress, who has acted in over 500 films throughout Hindi, Kannada, Marathi and Gujarati cinema, playing mostly supporting and character roles. She has won two Filmfare Awards for Best Supporting Actress, for "Pet Pyaar Aur Paap" (1985) and "Beta" (1992), and has been nominated for most times, holding a record for the most nominations in the category. In January 2012, Irani was honoured with the Filmfare Lifetime Achievement Award at the 57th Filmfare Awards.


title: Aruna Irani

text: Aruna Irani was born in Mumbai, India to an Irani father and a Hindu mother. Her father Faredun Irani ran a drama troupe, and her mother Saguna was an actress. She is the eldest of eight siblings, and gave up studies after sixth standard because her family did not have enough money to educate all the children. She claims to have learnt dancing while working in the films because she could not afford professional training from a master. Her brothers Indra Kumar, Adi Irani and Firoz Irani are all associated with the film industry. Actress Bindu is her cousin.


title: Aruna Irani

text: Aruna Irani made her debut in the film "Gunga Jumna" (1961) playing Azra's childhood character. She then acted in the film "Anpadh" (1962) as Mala Sinha's childhood character. She next did several small roles in films such as "Jahanara" (1964), "Farz" (1967), "Upkar" (1967) and "Aaya Sawan Jhoomke" (1969). She later acted with comedian Mehmood Ali in films such as "Aulad" (1968), "Humjoli" (1970), "Devi" (1970) and "Naya Zamana" (1971).


title: Aruna Irani

text: In 1971, she starred in "Caravan". She later starred in Mehmood Ali's "Bombay To Goa" (1972), "Garam Masala" (1972) and "Do Phool" (1973). Her films have included "Farz" (1967), "Bobby" (1973), "Fakira" (1976), "Sargam" (1979), "Red Rose" (1980), "Love Story" (1981), and "Rocky" (1981).


title: Aruna Irani

text: In the late 1980s and 1990s Irani switched to playing motherly roles, notably in "Beta" (1992), for which she won her second Filmfare Best Supporting Actress Award. She acted in the Kannada remake of the same film with the same role. Some of her Marathi films are "Aandhla Marto Dola", "Bhingari", "Changu Mangu", "Lapwa Chapvi", "Ek Gadi Baki Anadi", "Mitwaa" and "Bol Baby Bol".


title: Aruna Irani

text: In her later career, Irani also switched to television, performing character roles in various serials. She also took up direction and production of tele-serials such as "Mehndi Tere Naam Ki", "Des Mein Niklla Hoga Chand", "Rabba Ishq Na Hove", "Vaidehi" and more.


title: Aruna Irani

text: On 19 February 2012, she was awarded the 'Lifetime Achievement Award' at the annual Filmfare awards function in Mumbai.


title: More (soundtrack)

text: More is the third studio album and first soundtrack album by English rock band Pink Floyd. It was released on 13 June 1969 in the United Kingdom by EMI Columbia and on 9 August 1969 in the United States by Tower Records. The soundtrack is for the film of the same name, which was primarily filmed on location on Ibiza and was the directorial debut of Barbet Schroeder. It was the band's first album without former leader Syd Barrett.


title: More (soundtrack)

text: The album was a top ten hit in the UK, but received mixed reviews. Several songs became live favourites over the following years. Like other Pink Floyd albums, it has been reissued on CD with additional material and outtakes.


title: More (soundtrack)

text: Pink Floyd recorded several pieces of film music before this album. In December 1967, they were featured on the BBC's "Tomorrow's World", playing along to a light show, and the following year recorded some instrumental music for the film "The Committee".


title: More (soundtrack)

text: The film "More" featured a young hitchhiker in Ibiza who had succumbed to heroin abuse with party scenes and drug taking. Director Barbet Schroeder was a fan of Pink Floyd, and brought a rough cut of the film to London for them to work with. Instead of typical background music, Schroeder wanted the songs to feature in the film, such as a record playing at a party. The group also speculated they could branch out into a career as film composers if their recording and touring career did not work out. Drummer Nick Mason later said the film was "ideally suited to some of the rumblings, squeaks and sound textures we produced on a regular basis".


title: More (soundtrack)

text: The album was recorded at Pye Studios in London, in late January and early February 1969 with engineer Brian Humphries. The album was the first to be produced by Pink Floyd without assistance from Norman Smith, who retained an executive producer credit, and the first full album without Syd Barrett, who had been ousted from the group in 1968, during the recording of their second album, "A Saucerful of Secrets".


title: More (soundtrack)

text: Pink Floyd worked out most of the music in two weeks, with material put together quickly and semi-improvised. They did not use a dubbing studio due to budget constraints, and simply timed sequences in the film with a stopwatch so they knew how long the music had to be. Bassist Roger Waters wrote most of the lyrics during breaks between recording backing tracks. Schroeder was impressed by how quickly the group created and recorded the material. Mason and keyboardist Richard Wright co-wrote the instrumental "Up The Khyber", the only time the pair were credited as sole co-composers. Barrett's replacement David Gilmour handled all lead vocals on the album.


title: More (soundtrack)

text: "More" features a mixture of styles. Songs such as "Green is the Colour" were acoustic folk ballads, a genre not often explored by the group. Mason's wife Lindy played penny whistle on the track. The album also contains hard rock, such as "The Nile Song" and "Ibiza Bar", as well as several instrumental tracks such as "Quicksilver" and "Main Theme", featuring their experimental and avant-garde approach. "Cymbaline" criticised the music industry, with lines such as "your manager and agent are both busy on the phone". The version on the album is different from that in the film. Gilmour sings lead on both versions, though Waters is sometimes wrongly credited as singing lead for the film version.


title: More (soundtrack)

text: "Green is the Colour" was played live frequently after release, as a medley with "Careful With That Axe, Eugene", as part of a live suite called "The Journey". It was a regular feature in the set for two years afterwards. "Quicksilver" was played under the title "Sleeping" as part of the 1969 live show called "The Man", while "Cymbaline" was entitled "Nightmare". The latter remained part of the group's repertoire until the end of 1971. In live performances, the group left the stage partway through the song while the audience listened to a tape of quadraphonic sound effects including footsteps travelling round the venue, and doors opening. "Main Theme" was briefly played live in 1970.


title: More (soundtrack)

text: Two songs can be heard in the film which were not included on the album: "Hollywood" and "Seabirds". The latter was published in 1976's "The Pink Floyd Songbook". Both songs, as well as two other songs from those sessions, "Theme (Beat Version)" and "More Blues (Alternative Version)", were released on the 2016 box set, "The Early Years 1965–1972". The set in which these tracks appear, "1969: Dramatis/ation" was made available as a standalone release in 2017. The track called "Seabirds" in the box set is not the original song, but an alternative take of "Quicksilver".


title: More (soundtrack)

text: The album cover was, like "A Saucerful of Secrets", designed by Hipgnosis. It uses a shot from the film of two characters playing around a windmill in Ibiza, processed in a dark room to make it look like a psychedelic trip.


title: More (soundtrack)

text: "More" reached number 9 in the UK and, upon re-release in 1973, number 153 in the US. This was the last of three Pink Floyd albums to be released in the United States by the Tower Records division of Capitol Records. "The Nile Song" was released as a single in France, Japan and New Zealand around the same time. The track, along with "Cirrus Minor" appeared on the 1971 compilation "Relics".


title: More (soundtrack)

text: A 1973 US reissue was released on Harvest Records. It was certified gold in the US on 11 March 1994. The album was reissued on CD in 1985, with a digitally remastered version following in 1995. In 2016, it was reissued on Pink Floyd Records.


title: More (soundtrack)

text: "More" received mixed reviews from critics. "Record Song Book" said the album was "always extremely interesting ... quite weird in parts too". "The Daily Telegraph" was favourable, describing it as starting to "define experimental instrumental identity." "MusicHound" and "Rolling Stone" were less positive with the former giving the album a rating of one out of five and the latter calling it a "dull film soundtrack".


title: More (soundtrack)

text: Richie Unterberger of AllMusic gives a mixed overview, saying key tracks such as "Green Is The Colour" and "Cymbaline" developed into stronger pieces when played live.


title: 2020 stock market crash

text: 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.


title: 2020 stock market crash

text: Beginning on 13 May 2019, the yield curve on U.S. Treasury securities inverted, and remained so until 11 October 2019, when it reverted to normal. Through 2019, while some economists (including Campbell Harvey and former New York Federal Reserve economist Arturo Estrella) argued that a recession in the following year was likely, other economists (including the managing director of Wells Fargo Securities Michael Schumacher and San Francisco Federal Reserve President Mary C. Daly) argued that inverted yield curves may no longer be a reliable recession predictor. The yield curve on U.S. Treasuries would not invert again until 30 January 2020 when the World Health Organization declared the COVID-19 outbreak to be a Public Health Emergency of International Concern, four weeks after local health commission officials in Wuhan, China announced the first 27 COVID-19 cases as a viral pneumonia strain outbreak on 1 January.


title: 2020 stock market crash

text: The curve did not return to normal until 3 March when the Federal Open Market Committee (FOMC) lowered the federal funds rate target by 50 basis points. In noting decisions by the FOMC to cut the federal funds rate by 25 basis points three times between 31 July and 30 October 2019, on 25 February 2020, former U.S. Under Secretary of the Treasury for International Affairs Nathan Sheets suggested that the attention of the Federal Reserve to the inversion of the yield curve in the U.S. Treasuries market when setting monetary policy may be having the perverse effect of making inverted yield curves less predictive of recessions.


title: 2020 stock market crash

text: During 2019, the IMF reported that the world economy was going through a 'synchronized slowdown', which entered into its slowest pace since the Great Recession. Weakness was exhibited in the consumer market as global markets began to suffer through a 'sharp deterioration' of manufacturing activity. Global growth was believed to have peaked in 2017, when the world's total industrial sector output began to start a sustained decline in early 2018. The IMF blamed 'heightened trade and geopolitical tensions' as the main reason for the slowdown, citing Brexit and the China – United States trade war as primary reasons for slowdown in 2019, while other economists blamed liquidity issues.


title: 2020 stock market crash

text: The crash caused a short-lived bear market, and in April 2020 global stock markets re-entered a bull market, though U.S. market indices did not return to January 2020 levels until November 2020. The crash signaled the beginning of the COVID-19 recession. The 2020 stock market crash followed a decade of economic prosperity and sustained global growth after recovery from the Great Recession. Global unemployment was at its lowest in history, whilst quality of life was generally improving across the world. However, in 2020, the COVID-19 pandemic, the most impactful pandemic since the Spanish flu, began decimating the economy. Global economic shutdowns occurred due to the pandemic, and panic buying and supply disruptions exacerbated the market. The International Monetary Fund had pointed to other mitigating factors seen pre-pandemic, such as a global synchronized slowdown in 2019, as exacerbants to the crash, especially given that the market was already vulnerable.


title: 2020 stock market crash

text: Though the crash began on 20 February, selling was intensified during the first half of March to mid-March. During the crash, there were multiple severe daily drops in the global stock market, the largest drop was on 16 March, nicknamed 'Black Monday II' of 12–13% in most global markets. There were two other significant dates of crashes in the stock markets, one being 9 March, nicknamed 'Black Monday I', and on 12 March, nicknamed 'Black Thursday'. To deal with the panic, banks and reserves across the world cut their interest rates, bank rates and cash flow rates, as well as offering unprecedented support to investors and markets.


title: 2020 stock market crash

text: On Monday, 17 February 2020, Asia-Pacific stock markets closed down but European stock markets closed up, while U.S. stock markets were closed in observance of Presidents Day. Oil prices fell, while the yield on 10-year U.S. Treasury securities fell to 1.59%. On 18 February, Asia-Pacific stock markets closed up, while European stock markets, the Dow Jones Industrial Average, NASDAQ Composite, and S&P 500 all closed down. Oil prices rose by more than 2%, while the yields on 10-year and 30-year U.S. Treasury securities fell to 1.54% and 1.99%. Singaporean Finance Minister Heng Swee Keat announced a $4.5 billion fiscal stimulus program. On 19 February, Asia-Pacific and European stock markets closed mostly up, while the Dow Jones Industrial Average finished up and the NASDAQ Composite and the S&P 500 finished at record highs. Oil prices rose by another 2%, while yields on 10-year and 30-year U.S. Treasury securities fell to 1.56% and 2.00% respectively. The People's Bank of China and the Central Bank of the Republic of Turkey cut their repo rates by 10 and 50 basis points respectively, while the Central Bank of Argentina cut its bank rate by 400 basis points.


title: 2020 stock market crash

text: On 20 February, stock markets worldwide closed mostly down, while oil prices fell by 1% and yields on 10-year and 30-year U.S. Treasury securities fell to 1.51% and 1.96% respectively. Bank Indonesia cut its overnight rate by 25 basis points, while the Central Bank of Brazil announced it would cut its reserve requirement on 16 March from 31% to 25%, which is expected to release R$135 billion (or $29 billion) into the money supply. On 21 February, stock markets worldwide closed down on the day (with the Dow Jones Industrial Average, the NASDAQ Composite, and S&P 500 closing down on the week), while oil prices fell and yields on 10-year and 30-year U.S. Treasury securities fell to 1.45% and 1.89% respectively (with the 30-year finish being an all-time low).


title: 2020 stock market crash

text: On Monday, 24 February 2020, the Dow Jones Industrial Average and FTSE 100 dropped more than 3% as the coronavirus outbreak spread worsened substantially outside China over the weekend. This follows benchmark indices falling sharply in continental Europe after steep declines across Asia. The DAX, CAC 40 and IBEX 35 each fell by about 4% and the FTSE MIB fell over 5%. There was a large fall in the price of oil and a large increase in the price of gold, to a 7-year high. Yields on 10-year and 30-year U.S. Treasury securities fell to 1.36% and 1.81% respectively. On 25 February, stock markets worldwide closed down, while oil prices fell to their lowest level in more than a year and the yields on 10-year and 30-year U.S. Treasury securities fell to new record lows of 1.31% and 1.80% respectively. Indonesian Finance Minister Sri Mulyani announced a $742 million fiscal stimulus program.


title: 2020 stock market crash

text: On 26 February, stock markets worldwide finish with mixed records, while oil prices fell for the fourth session in a row while the yields on 10-year and 30-year U.S. Treasury securities fell 1.30% and 1.80% respectively. The Bank of Korea declined to cut its overnight rate. On 27 February, due to mounting worries about the COVID-19 pandemic, stock markets in Asia-Pacific and Europe saw 3–5% declines, with the NASDAQ-100, the S&P 500, and the Dow Jones Industrial Average posting their sharpest falls since 2008 (and the Dow falling 1,191 points, its largest one-day drop since the financial crisis of 2007–2008). Oil prices sank to their lowest level in over a year, while yields on 10-year and 30-year U.S. Treasury securities fell to 1.28% and 1.77% respectively. European Central Bank President Christine Lagarde indicated that while the European Central Bank was monitoring the outbreak, it was not yet causing a long-term impact on inflation and thus did not yet require a monetary policy response.


title: 2020 stock market crash

text: On 28 February, stock markets worldwide reported their largest single-week declines since the financial crisis of 2007–2008, while oil futures saw their largest single week decline since 2009 and the yields on 10-year and 30-year U.S. Treasury securities fell to new record lows at 1.12% and 1.30% respectively. Outgoing Bank of England Governor Mark Carney stated that the British economy (which saw stagnation and car manufacturing declines in the 4th quarter of 2019) was being impacted by the outbreak because it relies heavily on tourism revenues and international manufacturing supply lines. Federal Reserve Chair Jerome Powell stated that the outbreak was posing "evolving risks to economic activity" and that the Federal Reserve would use monetary policy to "act as appropriate to support the economy" but that "The fundamentals of the U.S. economy remain strong." Outgoing Malaysian Prime Minister Mahathir Mohamad announced a RM20 billion fiscal stimulus package.


title: 2020 stock market crash

text: Ultimately, from 24 to 28 February, stock markets globally plummeted several percentage points, while on Wall Street the indices were down at least 10%. It was the fastest correction in market history from all-time high, taking merely six days to enter into correction territory. The sudden drop in late February was attributed to fears that China could produce a global economic shock, primarily due to quarantines imposed by the state to combat the COVID-19 pandemic, which at the time was classified as an epidemic. Within weeks, stocks fell sufficiently enough to enter bear market territory. Concerning reports of the viruses spread in South Korea, Italy and Iran also prompted fear in investors, mounting to a mass sell-off in Asia-Pacific stock markets as well as European ones.


title: 2020 stock market crash

text: Over the preceding weekend, Bank of Japan Governor Haruhiko Kuroda stated that the Bank of Japan would "strive to stabilise markets and offer sufficient liquidity via market operations and asset purchases", and the Bank of Japan subsequently announced that it would repurchase up to ¥500 billion ($4.6 billion) worth of government bonds. On Monday 2 March, European and Asia-Pacific stock markets mostly ended the previous week's consecutive daily losses, while in the United States, the S&P 500 gained 3.9%, the NASDAQ Composite gained 3.7%, and the Dow Jones Industrial Average finished 1,126 points up (or 4.4%; its largest one-day gain since 2009). Oil futures saw their largest daily gain of 2020, while yields on 10-year and 30-year U.S. Treasury securities fell to 1.03% and 1.62% respectively.


title: 2020 stock market crash

text: On 3 March, the finance ministers and central bank executives of the G7 countries released a joint statement to "reaffirm our commitment to use all appropriate policy tools" to address the socioeconomic impact of the outbreak including "fiscal measures where appropriate" with the central banks continuing to "fulfill their mandates, thus supporting price stability and economic growth." On the same day, the Reserve Bank of Australia and the Central Bank of Malaysia announced overnight rate cuts of 25 basis points (which brought the Australian rate to its lowest level in history), Bank Indonesia announced it would cut its reserve requirement from 8 to 4 percent starting on 16 March, while the People's Bank of China declined to conduct open market operations. South Korean Finance Minister Hong Nam-ki announced a ₩11.7 trillion ($9.8 billion) fiscal stimulus program.


title: 2020 stock market crash

text: Also on 3 March, due to the Bank of Mexico declining to cut its overnight rate further, Mexican Finance Minister announced a fiscal stimulus program to accelerate government spending. The Federal Open Market Committee lowered the federal funds rate target by 50 basis points with Federal Reserve Chair Powell stating that the central bank "saw a risk to the outlook for the economy and chose to act" and that "the magnitude and persistence of the overall effect [of the outbreak] on the U.S. economy remain highly uncertain". At the close of trading on 3 March, European and Asia-Pacific stock markets had mostly risen, but the S&P 500, the NASDAQ Composite, and the Dow Jones Industrial Average all fell (with the Dow reversing more than two-thirds of the previous day's gain). Oil futures rose and the yield on 10-year and 30-year U.S. Treasury securities fell to record lows of 0.91% and 1.60% respectively (with the fall below 1% on the 10-year securities occurring for the first time in history).


title: 2020 stock market crash

text: On 4 March, Asia-Pacific and European stock markets continued mostly rising (with the KOSPI alone rising by 2%), while the S&P 500 rose by 4.2%, the NASDAQ Composite rose by 3.8%, and the Dow Jones Industrial Average reversed the previous day's loss by rising by 1,173 points (or 4.5%). However, oil futures fell and the yield on 10-year and 30-year U.S. Treasury securities finished at 0.99% and 1.64% respectively. The Bank of Canada and the Saudi Arabian Monetary Authority announced 50 basis point cuts to their overnight and repo rates respectively, International Monetary Fund managing director Kristalina Georgieva announced a $50 billion emergency credit-line program to assist low-income and emerging market countries with policy responses to the epidemic, and the Central Bank of Brazil announced that it would auction up to $1 billion in foreign exchange swaps.


title: 2020 stock market crash

text: On 5 March, Asia-Pacific stock markets continued rising while European stock markets closed down. The S&P 500, the NASDAQ Composite, and Dow Jones Industrial Average all fell by more than 3%. Oil futures rose following reports of OPEC agreeing to production cuts with Russia, while the yields on 10-year and 30-year U.S. Treasury securities fell to 0.91% and 1.54% respectively. The Central Bank of Argentina cut its bank rate by an additional 200 basis points, and after declining to cut its overnight rate on 27 February, the Bank of Korea renewed a currency swap agreement with Bank Indonesia. On 6 March, stock markets worldwide closed down (although the Dow Jones Industrial Average, NASDAQ Composite, and S&P 500 closed up on the week). Oil prices fell by 9% (the largest one-day price drop in 11 years), while the yields on 10-year and 30-year U.S. Treasury securities fell to new record lows under 0.71% and 1.22% respectively. U.S. President Donald Trump signed into law an emergency appropriations and pandemic countermeasures bill including $8.3 billion in government spending.


title: 2020 stock market crash

text: The reduction in the demand for travel and the lack of factory activity due to the COVID-19 pandemic significantly impacted demand for oil, causing its price to fall. In mid-February, the International Energy Agency forecast that oil demand growth in 2020 would be the smallest since 2011. Chinese demand slump resulted in a meeting of the Organization of the Petroleum Exporting Countries (OPEC) to discuss a potential cut in production to balance the loss in demand. The cartel initially made a tentative agreement to cut oil production by 1.5 million barrels per day following a meeting in Vienna on 5 March 2020, which would bring production levels to the lowest since the Iraq War.


title: 2020 stock market crash

text: After OPEC and Russia failed to agree on oil production cuts on 6 March and Saudi Arabia and Russia both announced increases in oil production on 7 March, oil prices fell by 25 percent. On 8 March, Saudi Arabia unexpectedly announced that it would increase production of crude oil and sell it at a discount (of $6–8 a barrel) to customers in Asia, the US, and Europe, following the breakdown of negotiations as Russia resisted calls to cut production. The biggest discounts targeted Russian oil customers in northwestern Europe.


title: 2020 stock market crash

text: Prior to the announcement, the price of oil had gone down by more than 30% since the start of the year, and upon Saudi Arabia's announcement it dropped a further 30 percent, though later recovered somewhat. Brent Crude, used to price two-thirds of the world's crude oil supplies, experienced the largest drop since the 1991 Gulf War on the night of 8 March. Also, the price of West Texas Intermediate fell to its lowest level since February 2016. Former George W. Bush administration energy policy advisor Bob McNally noted, "This is the first time since 1930 and '31 that a massive negative demand shock has coincided with a supply shock;" in that case it was the Smoot–Hawley Tariff Act precipitating a collapse in international trade during the Great Depression, coinciding with discovery of the East Texas Oil Field during the Texas oil boom. Fears of the Russian–Saudi Arabian oil price war caused a plunge in U.S. stocks, and have had a particular impact on American producers of shale oil.


title: 2020 stock market crash

text: Prior to opening, the Dow Jones Industrial Average futures market experienced a 1,300-point drop based on the coronavirus and fall in the oil price described above, triggering a trading curb, or circuit breaker, that caused the futures market to suspend trading for 15 minutes. Over the previous weekend, on 8 March, the TA-35 and TA-125 Indices of the Tel Aviv Stock Exchange fell by 4.5% and 4.7% respectively, entering bear markets from their 19 February peaks.


title: 2020 stock market crash

text: The United States' Dow Jones Industrial Average lost more than 2000 points, described by "The News International" as "the biggest ever fall in intraday trading." The Dow Jones Industrial Average hit a number of trading "circuit breakers" to curb panicked selling. Oil firms Chevron and ExxonMobil fell about 15%. The NASDAQ Composite, also in the United States, lost over 620 points. The S&P 500 fell by 7.6%. Oil prices fell 22%, and the yields on 10-year and 30-year U.S. Treasury securities fell below 0.40% and 1.02% respectively. Canada's S&P/TSX Composite Index finished the day off by more than 10%. Brazil's IBOVESPA gave up 12%, erasing over 15 months of gains for the index. Australia's ASX 200 lost 7.3% – its biggest daily drop since 2008, though it rebounded later in the day. London's FTSE 100 lost 7.7%, suffering its worst drop since the financial crisis of 2007–2008. BP and Shell Oil experienced intraday price drops of nearly 20% The FTSE MIB, CAC 40, and DAX tanked as well, with Italy affected the most as the COVID-19 pandemic in the country continues. They fell 11.2%, 8.4%, and 7.9% respectively. The STOXX Europe 600 fell to more than 20% below its peak earlier in the year.


title: 2020 stock market crash

text: In a number of Asian markets—Japan, Singapore, the Philippines, and Indonesia—shares declined over 20% from their most recent peaks, entering bear market territory. In Japan, the Nikkei 225 plummeted 5.1%. In Singapore, the Straits Times Index fell 6.03%. In China, the CSI 300 Index lost 3%. In Hong Kong, the Hang Seng index sank 4.2%. In Pakistan, the PSX saw the largest ever intra-day plunge in the country's history, losing 2,302 points or 6.0%. The market closed with the KSE 100 index down 3.1%. In India, the BSE SENSEX closed 1,942 points lower at 35,635 while the NSE Nifty 50 was down by 538 points to 10,451.


title: 2020 stock market crash

text: "The Washington Post" posited that coronavirus-related turmoil could spark a collapse of the corporate debt bubble, sparking and worsening a recession. The Central Bank of Russia announced that it would suspend foreign exchange market purchases in domestic markets for 30 days, while the Central Bank of Brazil auctioned an additional $3.465 billion the foreign exchange market in two separate transactions and the Bank of Mexico increased its foreign exchange auctions program from $20 billion to $30 billion. After announcing a $120 billion fiscal stimulus programs on 2 December, Japanese Prime Minister Shinzo Abe announced additional government spending, while Indonesian Finance Minister Sri Mulyani announced additional stimulus as well.


title: 2020 stock market crash

text: As the hashtag #BlackMonday trended on Twitter, news organizations such as the Associated Press, "The Economist", and "Yahoo Finance UK" adopted the term on the day it occurred. While "The Guardian" initially referred to it as "Crash Monday", they also later referred to it as "The Black Monday of 2020" to distinguish it from the 1987 crash of the same name. The Associated Press also quoted an analyst of the Australian finance company OFX as saying, "A blend of shocks have sent the markets into a frenzy on what may only be described as 'Black Monday' ... A combination of a Russia vs. Saudi Arabia oil price war, a crash in equities, and escalations in coronavirus woes have created a killer cocktail to worsen last week's hangover."


title: 2020 stock market crash

text: On the following day of trading, US stocks recouped some of the losses which happened on Monday, rising by more than 4%. This was attributed to a potential fiscal stimulus, such as a potential 0% payroll tax, being proposed by US President Donald Trump. On Wednesday, however, stocks fell once more, and resulted in the DJIA entering a bear market (i.e. 20% drop from the most recent peak) for the first time in 11 years, ending the longest bull market in American stock market history.


title: 2020 stock market crash

text: On 10 March, the Dow Jones Industrial Average, the NASDAQ Composite, and the S&P 500 all closed 4.9% up, while Asia-Pacific stock markets closed up and European stock markets closed down. Oil prices rose by 10%, while yields on 10-year and 30-year U.S. Treasury securities rose to 0.70% and 1.16% respectively. The Central Bank of Russia announced a repo auction of ₽500 billion (or $7 billion) and increased its foreign exchange swap operation limit to up to $5 billion. while Bank Indonesia conducted open market purchases of government bonds and Indonesian Finance Minister Sri Mulyani announced tax-related stimulus. Australian Prime Minister Scott Morrison announced A$2.4 billion in government spending for pandemic countermeasures.


title: 2020 stock market crash

text: On 11 March, Asia-Pacific and European stock markets closed down (with the S&P/ASX 200 on the Australian Securities Exchange falling to more than 20% below its 52-week high), while the NASDAQ Composite and the S&P 500 both fell by 5% and the Dow Jones Industrial Average by 6% (with the Dow also falling to more than 20% below its most recent record high set on 19 February). Oil prices fell by 4%, while the yield on 10-year and 30-year U.S. Treasury securities rose to 0.82% and 1.33% respectively. The Índice Bovespa of the Brazil Stock Exchange fell by 8.5% to 27% on the year, while the S&P/TSX Composite Index on the Toronto Stock Exchange also fell to more than 20 percent below its most recent peak on 20 February. The Bank of England announced that it would cut its bank rate by 25 basis points, while Chancellor of the Exchequer Rishi Sunak announced £30 billion in government spending with £12 billion specifically directed at pandemic countermeasures. The Federal Reserve announced that it would increase the top level of its overnight repurchase operations to $175 billion. The Bank of Japan announced that it was increasing its annual target of purchases of exchange-traded funds above the current ¥6 trillion (or $57 billion). Indonesian Finance Minister Sri Mulyani announced tax relief for the Indonesian manufacturing sector during the COVID-19 pandemic. Italian Prime Minister Giuseppe Conte announced a €25 billion (or $28 billion) fiscal stimulus.


title: 2020 stock market crash

text: On 11 March, US president Donald Trump gave a public address. In the speech, the president announced a temporary 30-day travel ban on all European goods and passengers from Europe in response to the COVID-19 pandemic. Trump's initial statements were later corrected: the ban affected people who were not US citizens and who in the past two weeks had visited the 26-member Schengen Area, but did not include trade goods and cargo and excluded the United Kingdom and Republic of Ireland. These countries were added to the ban 3 days later. Trump did not consult with the European Union before imposing the travel ban.


title: 2020 stock market crash

text: Carmen Reinicke of "Business Insider" wrote that Trump's address to the nation "failed to calm investors' concerns about the economic fallout from the coronavirus outbreak". According to Ben Levisohn, writer for "Barron's", "Dow futures were up around 300 points before the president's address began. And then the president started talking—and futures started falling."


title: 2020 stock market crash

text: Black Thursday was a global stock market crash on 12 March 2020, as part of the greater 2020 stock market crash. US stock markets suffered from the greatest single-day percentage fall since the 1987 stock market crash. Following Black Monday three days earlier, Black Thursday was attributed to the COVID-19 pandemic and a lack of investor confidence in US President Donald Trump after he declared a 30-day travel ban against the Schengen Area. Additionally, the European Central Bank, under the lead of Christine Lagarde, decided to not cut interest rates despite market expectations, leading to a drop in S&P 500 futures of more than 200 points in less than an hour.


title: 2020 stock market crash

text: Bank Indonesia announced open market purchases of Rp4 trillion (or $276.53 million) in government bonds, while Bank Indonesia Governor Perry Warjiyo stated that Bank Indonesia's open market purchases of government bonds had climbed to Rp130 trillion on the year and Rp110 trillion since the end of January. Despite declining to cut its deposit rate, the European Central Bank increased its asset purchases by €120 billion (or $135 billion), while the Federal Reserve announced $1.5 trillion in open market purchases. Australian Prime Minister Scott Morrison announced a A$17.6 billion fiscal stimulus package. The Reserve Bank of India announced that it would conduct a six-month $2 billion currency swap for U.S. dollars, while the Reserve Bank of Australia announced A$8.8 billion in repurchases of government bonds. The Central Bank of Brazil auctioned $1.78 billion foreign exchange spots.


title: 2020 stock market crash

text: Asia-Pacific stock markets closed down with the Nikkei 225 of the Tokyo Stock Exchange, the Hang Seng Index of the Hong Kong Stock Exchange, and the IDX Composite of the Indonesia Stock Exchange falling more than 20% below their 52-week highs. European stock markets closed down 11% with the UK FTSE 100, German DAX, French CAC 40, Italian FTSE MIB, Finnish OMX Helsinki 25, Swedish OMX Stockholm 30, OMX Nordic 40, and the Latvian OMX Riga indices all closing more than 20% below their most recent peaks. In the US, the Dow Jones Industrial Average closed down an additional 10%, the NASDAQ Composite closed down 9.4%, and the S&P 500 closed down 9.5%. This caused the NASDAQ and S&P 500 to fall to more than 20% below their all time highs, and so the declines activated a trading curb at the New York Stock Exchange for the second time that week. Oil prices dropped by 8%, while the yields on 10-year and 30-year U.S. Treasury securities increased to 0.86% and 1.45% (and their yield curve finished normal).


title: 2020 stock market crash

text: The US's Dow Jones Industrial Average and S&P 500 suffered from the greatest single-day percentage fall since the 1987 stock market crash, as did the UK's FTSE 100, which fell 10.87%. The Canadian S&P/TSX Composite Index dropped 12%, its largest one-day drop since 1940. The FTSE MIB Italian index closed with a −16.92% loss, the worst in its history. Germany's DAX fell 12.24% and France's CAC 12.28%. In Brazil, the Ibovespa plummeted 14.78%, after trading in the B3 was halted twice within the intraday; it also moved below the 70,000 mark before closing above it. The NIFTY 50 on the National Stock Exchange of India fell 7.89% to more than 20% below its most recent peak, while the BSE SENSEX on the Bombay Stock Exchange fell 2,919 (or 8.18%) to 32,778. The benchmark stock market index on the Johannesburg Stock Exchange fell by 9.3%. The MERVAL on the Buenos Aires Stock Exchange fell 9.5% to 19.5% on the week. 12 March was the second time, following 9 March drop, that the 7%-drop circuit breaker was triggered since being implemented in 2013.


title: 2020 stock market crash

text: In Colombia, the peso set an all-time low against the U.S. dollar, when it traded above 4000 pesos for the first time on record. The Mexican peso also set an all-time record low against the U.S. dollar, trading at 22.99 pesos.


title: 2020 stock market crash

text: Soon after trading began, a Level-1 trading curb was triggered on major US stock markets due to increased selling, leading to a 15-minute halt on trading. Level-1 circuit breaker is triggered with a fall of 7% on the S&P 500. The trading halt occurred after the markets reached a drop of 7.2 percent within 15 minutes. The crash temporarily recovered after the Federal Reserve Bank of New York offered at least $1.5 trillion worth of short-term loans to banks for 12–13 March, but the market quickly resumed its decline soon after. The Dow fell 2,353 points, losing all of its gains from its lowest point in 2018. The drop surpassed Black Monday, which occurred just a few days before, to be the greatest single-day point drop ever. Together with the drops of 1,191 and 1,465 points on 27 February and 11 March, the four largest Dow daily losses up to Black Thursday were all linked to the COVID-19 pandemic. President Trump reacted to the crash by defending his travel ban and predicting that the stock market would eventually recover with central bank intervention.


title: 2020 stock market crash

text: On 13 March, European stock markets closed mostly up while Asia-Pacific stock markets mostly closed down (except for the S&P/ASX 200 which rose by 4.4%), while the Dow Jones Industrial Average, NASDAQ Composite, and the S&P 500 all rose by more than 9% (in their largest rally since 2008). The RTS Index on the Moscow Exchange finished 27% down on the week, the Tadawul All-Share Index on the Saudi Stock Exchange finished 17% percent down, the benchmark index on the Borsa Istanbul finished 15% down, and the Indice de Precios y Cotizaciones on the Mexican Stock Exchange finished 9% down. Though finishing up on the day, oil prices posted their largest single-week decline since 2008, while yields on 10-year and 30-year U.S. Treasury securities rose to over 1% and 1.6% respectively (and their yield curve remained normal). The Índice Bovespa of the Brazil Stock Exchange closed 13% up. U.S. President Donald Trump declared the COVID-19 pandemic to be a national public health emergency thus releasing $50 billion in government spending directed to pandemic countermeasures.


title: 2020 stock market crash

text: Speaker of the U.S. House of Representatives Nancy Pelosi stated that the U.S. House of Representatives would pass a subsequent appropriations and pandemic countermeasures bill including a sick leave expansion, which President Trump reversed his initial opposition to and endorsed. Canadian Prime Minister Justin Trudeau announced that the Government of Canada was preparing a fiscal stimulus program, with Canadian Finance Minister Bill Morneau stating that it would include a C$10 billion business credit-line. The Bank of Canada announced an additional 50 basis point cut to its overnight rate. The People's Bank of China announced that it would reduce its reserve requirement by 50 to 100 basis points from the current 12.5%, releasing $79 billion into the money supply. The Bank of Japan announced ¥200 billion (or $1.9 billion) of open market purchases of government bonds.


title: 2020 stock market crash

text: The Bank of Canada announced C$7.5 billion of open market purchases. The Brazilian Finance Ministry announced that it was cancelling a series of bond auctions for the upcoming week. The Central Bank of Russia announced that it would purchase at auction ₽500 billion (or $6.8 billion) in repurchase agreements. The Central Bank of the Republic of Turkey conducted ₺29 billion (or $4.6 billion) in open market repurchases of government bonds. Bank Indonesia conducted Rp6 trillion (or $405 billion) of open market purchases of government bonds, while Indonesian Finance Minister Sri Mulyani announced Rp120 trillion ($8.1 billion) in additional fiscal stimulus.


title: 2020 stock market crash

text: Over the preceding weekend, the Saudi Arabian Monetary Authority announced a $13 billion credit-line package to small and medium-sized companies, while South African President Cyril Ramaphosa announced a fiscal stimulus package. The Federal Reserve announced that it would cut the federal funds rate target to 0%–0.25%, lower reserve requirements to zero, and begin a $700 billion quantitative easing program.


title: 2020 stock market crash

text: Dow futures tumbled more than 1,000 points and Standard & Poor's 500 futures dropped 5%, triggering a circuit breaker. On Monday 16 March, Asia-Pacific and European stock markets closed down, with the S&P/ASX 200 setting a one-day record fall of 9.7%, collapsing 30% from the peak that was reached on 20 February, and the OMX Copenhagen 25, the OMX Tallinn, and OMX Vilnius on the Nasdaq Nordic exchanges all fell below 20 percent from their most recent peaks on 19 February in Copenhagen and on 21 February in Tallinn and Vilnius. The Dow Jones Industrial Average, the NASDAQ Composite, and the S&P 500 all fell by 12–13%, with the Dow eclipsing the one-day drop record set on 12 March and the trading curb being activated at the beginning of trading for the third time (after 9 and 12 March). Oil prices fell by 10%, while the yields on 10-year and 30-year U.S. Treasury securities fell to 0.76% and 1.38% respectively (while their yield curve remained normal for the third straight trading session).


title: 2020 stock market crash

text: The CBOE Volatility Index closed at 82.69 on 16 March, the highest ever closing for the index (though there were higher intraday peaks in 2008). Around noon on 16 March, the Federal Reserve Bank of New York announced that it would conduct a $500 billion repurchase through the afternoon of that day. Indonesian Finance Minister Sri Mulyani announced an additional Rp22 trillion in tax-related fiscal stimulus. The Central Bank of the Republic of Turkey lowered its reserve requirement from 8% to 6%. The Bank of Japan announced that it would not cut its bank rate lower from −0.1% but that it would conduct more open market purchases of exchange-traded funds. After cutting its bank rate by 25 basis points on 7 February, the Central Bank of Russia announced that it would keep its bank rate at 6%, while the Bank of Korea announced that it would cut its overnight rate by 50 basis points to 0.75%. The Central Bank of Chile cut its benchmark rate.


title: 2020 stock market crash

text: On 17 March, Asia-Pacific stock markets closed with mixed finishes, while European stock markets finished more than 2% up, whereas the NASDAQ Composite and the S&P 500 finished more than 6% up and the Dow Jones Industrial Average finished more than 5% up. Oil prices fell by 6%, while the yields on 10-year and 30-year U.S. Treasury securities rose to 1.04% and 1.62% respectively. The Federal Reserve announced that it would reestablish its Commercial Paper Funding Facility (CPFF) with up to $1 trillion for short-term corporate bonds, while Chancellor of the Exchequer Rishi Sunak announced a £330 billion government-backed business loan guarantee program. The Central Bank of the Republic of Turkey announced that it would cut its repo rate by 100 basis points from 10.75% to 9.75%, while providing the Turkish lira repo auctions at 150 basis points lower than its benchmark repo rate. The Bank of Israel announced that it would cut its bank rate by 15 basis points to 0.10%.


title: 2020 stock market crash

text: The Bank of Japan conducted ¥120 billion in open market purchases of exchange-traded funds. Spanish Prime Minister Pedro Sánchez and French President Emmanuel Macron announced €200 billion and €45 billion ($220 billion and $50 billion) fiscal stimulus programs respectively, while Canadian Prime Minister Justin Trudeau released the Canadian federal government's C$82 billion ($56.7 billion) fiscal stimulus package he announced the previous week. New Zealand Finance Minister Grant Robertson also announced a NZ$12.1 billion fiscal stimulus program. The National Bank of Poland announced that it would cut its reference rate by 50 basis points to 1%, its lombard rate by 100 basis points to 1.5%, its bank rate by 70 basis points to 1.05%, and cut its reserve requirement from 3.5% to 0.5%.


title: 2020 stock market crash

text: On 18 March, Asia-Pacific and European stock markets closed down, while the NASDAQ Composite and the S&P 500 both fell by 5%, and the Dow Jones Industrial Average by more than 6% and below 20,000 points for the first time since February 2017 (with the trading curb activated for the fourth time within the course of a week). Oil prices fell by 24% to an 18-year low, while the yields on 10-year and 30-year U.S. Treasury securities rose to 1.23% and 1.68% respectively (while their yield curve remained normal). U.S. Senate Majority Leader Mitch McConnell stated that he expected the $100 billion appropriations and pandemic countermeasures bill passed by the U.S. House of Representatives the previous Friday to pass the U.S. Senate that day, which it did by a vote of 90 to 8 and President Donald Trump signed the bill into law.


title: 2020 stock market crash

text: The European Central Bank announced that it would purchase up to €750 billion ($820 billion) of government and corporate bonds and commercial paper. The Central Bank of Brazil cut its overnight rate by 50 basis points to a record-low 3.75% and sold $830 million in foreign exchange spots, while the Reserve Bank of Australia cut its official cash rate to 0.25%. The Reserve Bank of India announced that it would conduct $1.35 billion in open market purchases of government bonds, the Bank of Korea announced that it would conduct a ₩1 trillion ($793.5 million) repo auction the following day, and the National Bank of Poland announced that it would conduct open market purchases of government bonds to support fiscal stimulus implemented by the Polish government. The New York Stock Exchange announced that it would temporarily close its trading floor and move to all-electronic trading beginning on 23 March when two traders tested positive for COVID-19 at screenings set up by the NYSE.


title: 2020 stock market crash

text: On 19 March, Asia-Pacific stock markets closed down while European stock markets closed 3% up, while the Dow Jones Industrial Average, the NASDAQ Composite, and S&P 500 also all closed up. Oil prices rose by 23%, while the yields on 10-year and 30-year U.S. Treasury securities fell to 1.06% and 1.68% respectively (while their yield curve remained normal). The Federal Reserve announced $450 billion in foreign exchange swap lines to the central banks of Australia, Brazil, South Korea, Mexico, Singapore, Sweden, Denmark, Norway and New Zealand, with the swap lines for the Central Bank of Brazil, the Monetary Authority of Singapore, and the Bank of Korea amounting to $60 billion each. The Federal Reserve also established an additional lending facility similar to the CPFF for money market mutual funds. The Bank of Japan conducted ¥1.3 trillion ($12 billion) in emergency open market purchases of government bonds.


title: 2020 stock market crash

text: The Bank of England announced that it would cut its overnight rate by 15 basis points to 0.1% and would increase its open market purchases of government bonds by £200 billion to a total of £645 billion, while the Danmarks Nationalbank raised its deposit rate by 15 basis points to −0.60%. The Central Bank of the Republic of China cut its bank rate by 25 basis points to 1.125%. After cutting its repo rate by 25 basis points on 16 January, the South African Reserve Bank announced that it would cut its repo rate by an additional 100 basis points to 5.25%. Bank Indonesia also cut its repo rate by 25 basis points to 4.50%. Chilean President Sebastián Piñera announced an $11.7 billion fiscal stimulus package. U.S. Senate Majority Leader Mitch McConnell introduced legislation for a third fiscal stimulus package of up to $1 trillion that includes cash payments to households under $75,000 in adjusted gross income (with $1,200 per individual, $2,400 for couples, and $500 per child) and $208 billion for industries severely distressed by the pandemic.


title: 2020 stock market crash

text: On Friday, 20 March 2020, Asia-Pacific and European stock markets closed mostly up, while the Dow Jones Industrial Average, the NASDAQ Composite, and the S&P 500 all closed down 4% (with the Dow eclipsing its one-week decline from 24 to 28 February 2020 to finish at its largest one-week decline since the financial crisis of 2007–2008). Oil prices fell by 11%, while the yields on 10-year and 30-year U.S. Treasury securities fell to 0.93% and 1.52% respectively (while their yield curve remained normal for at least the sixth trading session of the preceding seven). The Federal Reserve announced that it would expand its asset purchases to include municipal bonds, while the Reserve Bank of Australia announced that it would also purchase A$5 billion ($2.9 billion) in municipal bonds. Bank Indonesia and the Central Bank of Brazil announced $10.1 billion and $3 billion of open market purchases of government bonds respectively, while the Reserve Bank of India announced that it would conduct ₹300 billion in open market purchases the following week.


title: 2020 stock market crash

text: The Bank of Mexico announced that it would cut its overnight rate by 50 basis points, while the National Bank of Romania announced that it would cut its bank rate by 25 basis points to 2.0%. The European Central Bank opened a €24 billion foreign exchange swap line with Danmarks Nationalbank. U.S. Treasury Secretary Steven Mnuchin announced that the Internal Revenue Service would extend the federal tax filing deadline from 15 April to 15 July, while Maryland Governor Larry Hogan and New York Governor Andrew Cuomo, as chair and vice-chair of the National Governors Association, wrote an open letter to the Trump Administration and the 116th U.S. Congress to request $150 billion in federal aid to U.S. state governments to address the COVID-19 pandemic. The Swiss federal government and the Saudi Arabian national government both announced $32 billion fiscal stimulus programs, while the German federal government has been reported to be planning a €100 billion fiscal stimulus program. Indonesian Finance Minister Sri Mulyani announced that the Indonesian government would reallocate Rp62.3 trillion ($3.9 billion) from the 2020 fiscal year budget for COVID-19 pandemic countermeasures.


title: 2020 stock market crash

text: On Monday, 23 March 2020, Asia-Pacific stock markets closed up while European and U.S. stock markets closed mostly down. Oil prices rose, while the yields on 10-year and 30-year U.S. Treasury securities fell to 0.82% and 1.34% respectively. The finance ministers and central bank executives of the G20 countries agreed to develop a joint action plan to address the economic effects of the COVID-19 pandemic. The Reserve Bank of New Zealand and the Bank of Japan announced NZ$30 billion and $7.3 billion in open market purchases of government bonds respectively, the Reserve Bank of India and Sveriges Riksbank announced ₹1 trillion and kr10 billion ($956.3 million) in repo operations, while the Bank of Korea and the Federal Reserve announced that they would conduct additional repo operations and asset purchases respectively of undisclosed amounts.


title: 2020 stock market crash

text: The Bank of Japan lent $34.9 billion to its nation's banks in a one-week dollar funding operation, Sveriges Riksbank announced kr400 billion ($38.8 billion) in loans to its nation's banks, the World Bank announced $300 million in loans to banks in Indonesia, while the Central Bank of Brazil announced that it would expand its money supply by R$1.2 trillion ($234 billion) in loans to banks and by cutting its reserve requirement from 25% to 17%. The Hungarian National Bank announced Ft74.5 billion ($227 million) in foreign exchange swaps of domestic currency with euros. The Australian parliament passed an A$80 billion fiscal stimulus program, while Japanese Prime Minister Shinzo Abe announced that a fiscal stimulus program his government was considering would amount to at least ¥15 trillion ($137 billion). The Central Bank of Iceland announced that it would initiate a quantitative easing program to purchase government bonds in support of a $1.6 billion fiscal stimulus program announced by the Icelandic government over the preceding weekend.